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The cost to your employer

The cost to your employer goes up or down, and this is set by a professional expert called an actuary every three years.

When working out how much each employer must pay, the actuary aims to make sure that GMPF can completely cover the cost of benefits it will have to pay out.

If the money held by GMPF falls below the full amount needed, employers will have to make good this shortfall. But equally, if GMPF has a surplus then employers' contributions go down.

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