LGPS

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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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.

UK - Doctors are urging local government pension schemes to ditch their investments in tobacco companies because they are "unethical" and lead to the death of thousands.

Doctors are urging local government pension schemes to ditch their investments in tobacco companies because they are "unethical" and lead to the death of thousands.

Fair Deal policy should be retained for the LGPS to ensure outsourced workers benefit from higher investment returns and cost savings, Greater Manchester Pension Fund says.

The recommendations of Lord Hutton may seem eminently sensible in a normal world, but the current parlous state of the public sector can hardly be regarded as normal.

Michael Bow talks political cherry picking