LGPS

Why the unions are right to strike (and why the government must stand firm)

A 12-week government consultation to save £900m from the LGPS will launch at the end of September even though plans on how to achieve the savings are still to be agreed.

Proposals to implement a new LGPS with lower accrual rates could be used as a short-term fix to generate millions of pounds in savings required from the scheme by Treasury next year.

Unions and local councils are on collision course with central government after sources revealed officials were set to miss the September deadline to deliver LGPS reform proposals.

Northumberland County Council Pension Fund has appointed Northern Trust to provide it with transition management services.

Trade union Unison has further rebuked a government plan to cut local government pension costs, labelling it a "dangerous financial gamble" for UK equity markets.

UK - Councils have been given just six weeks to come up with a package of reforms to slash £900m ($1.5bn) from taxpayer contributions to the Local Government Pension Scheme.

Councils have been given just six weeks to come up with a package of reforms to slash £900m from taxpayer contributions to the Local Government Pension Scheme.

The £4.3bn Lancashire County Council pension fund has become the fourth local government pension scheme this year to hand Northern Trust a custody mandate.

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