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: Waspi campaign; Will L&G be the City's next domino to fall?

News Digest: Waspi campaign; Will L&G be the City's next domino to fall?

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

Professional Pensions
clock 14 May 2026 • 1 min read
Gilt yields climb once again as King's Speech fails to calm market nerves

Gilt yields climb once again as King's Speech fails to calm market nerves

Starmer battles to save leadership

Michael Nelson
clock 13 May 2026 • 1 min read
Professional Pensions Live: Last chance to register

Professional Pensions Live: Last chance to register

Our flagship event will be held on 19 May at Convene, 155 Bishopsgate in London

Jonathan Stapleton
clock 13 May 2026 • 1 min read
Trustpilot