Essex fire authority discovers £15m pensions black hole

clock

Essex County Fire and Rescue Service (ECFRS) has discovered a £15m black hole in its finances, after a pensions accounting error was overlooked since 2006.

Accounting changes made in 2006 meant additional pension payments awarded to firefighters who left the service due to work-related injury were funded by regional fire authorities, instead of centra...

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 Law and Regulation

Jeremy Hunt made the pot for life announcement as part of today's Autumn Statement

'A sea-change in workplace pension provision' - reaction to pot for life proposals

Industry says reforms raised questions for employers and needed careful consideration

Jonathan Stapleton
clock 22 November 2023 • 5 min read
Copyright HM Treasury

Autumn Statement 23: The pension announcements in full

What we know so far on a day of seismic change for the pension industry

Jonathan Stapleton
clock 22 November 2023 • 6 min read
Autumn Statement 23: LTA abolition remains on target for April 2024

Autumn Statement 23: LTA abolition remains on target for April 2024

Autumn Statement documents confirm LTA abolition on track

Jenna Brown
clock 22 November 2023 • 1 min read
Trustpilot