The Pensions and Lifetime Savings Association (PLSA) covered 35 LGPS funds with 3.1 million members and £126 billion under management as part of its annual survey.
The survey found that median employer contributions increased from 18.6% in 2014 to 19.8% in 2015, although these rates are lower than reported for the private sector, of 22.5% in 2015. In addition, the average scheme-specific funding level improved slightly from 75% in 2014 to 78% in 2015. The mean percentage allocated to equities fell slightly from 60% to 56%, while the fixed income allocation remained at 17%. There was increase in other assets from 23% to 27%.