LGPS contribution cut could save councils £3bn per year

LCP has called for a review of contributions to help protect councils’ financial positions

Holly Roach
clock • 1 min read
LCP partner Tim Gilbert
Image:

LCP partner Tim Gilbert

Cutting contributions to the Local Government Pension Scheme (LGPS) could save councils £3bn per year, according to Lane Clark & Peacock (LCP) analysis.

The consultancy noted due to increases in the surplus of LGPS funds of more than £100bn across England and Wales, councils could be paying more than £6bn a year into the LGPS for new benefits being...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

News Digest: Teachers' pensions contribution cut 'highly likely'

News Digest: Teachers' pensions contribution cut 'highly likely'

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 17 June 2026 • 1 min read
National Coalition for Workplace Savings launches

National Coalition for Workplace Savings launches

Group aims to increase number of employees able to access workplace savings schemes

Jonathan Stapleton
clock 16 June 2026 • 3 min read
Nest publishes 'first-of-its-kind' member assembly report

Nest publishes 'first-of-its-kind' member assembly report

Report calls for members to have ‘stronger’ voice in scheme’s decision-making

Martin Richmond
clock 16 June 2026 • 2 min read
Trustpilot