We’re pleased to say that despite operating in periods of rapid change and uncertainty, the EAPF has performed really well during the 2021/22 financial year. Our top priority remains to ensure that the pensions of our past, present, and future members are secure and well managed.
Our annual report and financial statements were laid in parliament on 26 October 2022.
Some key highlights this year are:
- Our funding ratio at the year-end was 110% - our assets outweigh our liabilities
- The Active Fund annual performance return was 6.5% - great result despite significant global market volatility
- We invested in a new Paris Aligned Fund which accelerates the financial system move to net zero
- Your Pension Fund won the ‘Best Climate Change Strategy’ at the LAPF awards – we're really proud of this recognition
Read our summarised version of the report in our Spotlight 2021/22 edition
If you'd like more in depth details about our performance, you can read our full annual reports by clicking the links below.
Download our latest Active Fund annual report.
Download our latest Closed Fund annual report.
Actuarial Valuation
A formal actuarial valuation of your Pension Fund is required every 3 years. This valuation looks at our assets (money) and liabilities (pension we need to pay) at a set date, 31 March 2022, and helps determine the amount your employer pays into the Fund each year. Our initial results reflect a funding level of 103%, which is great news, with employer contribution rates remaining at their current level. Both the Environment Agency and NRW remain committed to providing excellent pensions for their staff. The valuation report will be finalised in the New Year for implementation from 1 April 2023. We'll update you more on this.