LGPS freed from 3.2% contribution increase rule

clock

Local government pension schemes will be free to reform the fund and deliver savings to government without imposing a 3.2 percentage point increase on employees' contributions, PP understands.

The LGPS has been granted autonomy to formulate its own package of reforms while still helping deliver additional savings of £1.8bn required for all schemes across the public sector by the Treasury...

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 Defined Benefit

Matthew Fletcher, Associate Partner, Aon

Industry Voice: The conundrum of predicting future longevity

The UK has seen high levels of mortality since the start of the Covid-19 pandemic in March 2020.

Matthew Fletcher, Associate Partner at Aon
clock 08 December 2022 • 4 min read
 University of Cornell

Younger USS staff to lose up to £200,000 in retirement

University and College Union cites ‘damning evidence’ published this week

Hope William-Smith
clock 17 June 2022 • 2 min read
 Jo Grady

USS called on to reconsider benefits amid deficit shrink

USS chief executive this week confirmed the scheme’s £14bn deficit has shrunk to £1.6bn

Hope William-Smith
clock 01 June 2022 • 1 min read
Trustpilot