LGPS contribution hike could 'destroy' schemes

clock

Treasury plans to increase public sector employee pension contributions by 3% could destroy the Local Government Pension Scheme, the London Pensions Fund Authority warns.

Chancellor George Osborne's proposals to squeeze an extra £900m out of LGPS members - through an average 3% contribution hike over the next three years - would lead to mass member opt-outs, forcing...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Good News Corner: LCP Foundation supports two charities with £140,000

Good News Corner: LCP Foundation supports two charities with £140,000

Trinity Winchester and The Felix Project will benefit from a £70,000 grant each

Jasmine Urquhart
clock 22 March 2024 • 1 min read
Margaret Snowdon announced as keynote speaker at PP Live

Margaret Snowdon announced as keynote speaker at PP Live

Pensions Scams Industry Group chair to speak at PP’s flagship event in London on 22 May

Professional Pensions
clock 22 March 2024 • 1 min read
PPF publishes 2023 diversity pay gap report

PPF publishes 2023 diversity pay gap report

Lifeboat fund reveals mean gender pay gap has fallen to its lowest level since reporting began

Martin Richmond
clock 22 March 2024 • 3 min read
Trustpilot