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UK Government Bond Markets

14/10/2022

The Dyfed Pension Fund Committee is acutely aware of news headlines about the current volatility in UK Government bond markets and the impact on some pension schemes. We would like to assure members that the Fund has no exposure to the particular investments which have been most affected (so-called Liability Driven Investments (LDI)), and, indeed, has only a minimal exposure to UK government bonds (1.4% as at end June 2022). Your Fund has ample income from investments and current contributions to cover current pension payments, and a strong funding position to cover future pension payments.

Furthermore, as a defined benefit pension scheme, the value of your own pension benefits is defined according to LGPS regulations, and is not influenced by market movements.

So, in summary, the current turmoil represents no material risk to your pension!”