LGPS reform: Joint statement in full

Here it is. The joint statement by the LGA, LGA Workforce Board, Unison, GMB and Unite in full.

Joint agreement reached on a way forward for a new Local Government
Pension Scheme (LGPS)

Unison, GMB and Unite on behalf of the local government unions
together with the Local Government Association have put forward an
agreement on the principles of and implementation timetable for the
introduction of a new LGPS in 2014.This agreement has been accepted by
government and supplants previous proposals.

The objective of the agreement is to roll the requirements for short term
savings and long term reform into a ‘one step' process. This process
envisages regulations by March 2103, in time for the next scheme valuation,
with the new scheme in place by April 2014.

The principles cover both scheme design and the ongoing cost management
and governance of the scheme. Discussions on the details including accrual
rates and contributions will start in the new year with the ‘big ticket' items due
to be settled on by April 2012.

In reaching this agreement all those involved have demonstrated their
commitment to and belief in the continuing value of Local Government
Pension Scheme to both members and employers. For its part the
Government has recognised that the distinctive funded nature of the LGPS
allows for a different approach than may be taken by the other public service
schemes.

Joint statement:

"We firmly believe that this joint and cross party agreement, which has been
discussed with both government ministers and officials during its
development, provides the best possible route to a simple and sustainable
scheme which is affordable for both members and employers.

Furthermore we are in agreement that the principles and timescale set out are
a robust, sensible and reasonable way of achieving the savings and reforms
by which the long term sustainability of the LGPS may be ensured..

We are committed to the successful conclusion of this process, which will
require a constant focus on the timetable established by this agreement.

Whilst the implementation of these principles are in progress we are confident
that no actions need be taken as a result of the current consultation on LGPS
reform.

In reaching the outcomes of this process and final agreement there will
continue to be proper consultation with and endorsement from our respective
memberships.

We understand that scheme members may be finding this process both
confusing and unsettling and we will ensure that regular communication takes
place in order to keep all informed. We believe the LGPS is and will continue
to be an excellent scheme and the best way to ensure a financially secure
future."

Sir Merrick Cockell, chairman, Local Government Association
Mayor Sir Steve Bullock, chairman, LGA Workforce Board
Heather Wakefield, national secretary of local government, police and
justice, Unison
Brian Strutton, national secretary, GMB
Peter Allenson, national officer for local government, Unite