Tony Williams, Head of Employer Services at the London Pensions Fund Authority
Currently employed as Head of Employer Services at London Pensions Fund Authority (LPFA) working on all actuarial, legal, covenant and employer risk issues in the fund since June 2003, Tony has over 27 years’ experience in defined benefit pension schemes.
As part of the 2013 valuation process Tony was instrumental to implementing a new risk based approach to employer contribution rate setting in a Local Government Pension Scheme fund using differential discount rates and enabling fund employers to move to a lower risk rating if they could implement security. This has helped mitigate the risk of pension liabilities falling on taxpayers.
His current role involves working with senior contacts both in the LGPS, government and funding agencies together with a large number of legal actuarial and consultancy advisors.
By implementing the new risk based approach to contribution rate setting at LPFA the group have implemented over £360 million additional security to the fund in terms of first charges, enhanced contributions, escrow accounts, parent company guarantees and letters of assurance from Government Departments.
In addition they were the first Local Government Pension Scheme to implement sector specific covenant checks working with funding bodies and key government departments to minimise risk to taxpayers.
As well as working for LPFA Tony has worked for a number of funds on employer risk management issues and is currently working to ensure fund compliance with code of Practice 14 which relates to all Public Sector Pension schemes.
The LPFA were recognised as finalists in the risk reduction category at both the Professional Pension awards 2015 and LAPF Investments 2015 which demonstrates how you can use a private sector approach, utilising Pension Regulator best practice in a Local Government arena.
Previous roles included working on pension administration at London Borough of Hillingdon and British Telecom as well as National Insurance issues at Department of Work & Pensions.
Tony's values are to work to create a centre of excellence of liability management within both the Local Government Pension scheme but also to look to work with other Public Sector Pension schemes on employer risk management issues.