LGPS

Aviva Investors has launched a global real estate fund of funds to help UK local authority pension schemes access unlisted property and still comply with LGPS regulations.

Predictions 1% of LGPS employees will opt out of the scheme if contributions rates increase are inaccurate and a result of Treasury failure to listen to stakeholders, employers say.

Senior local government officials have written to government minister Eric Pickles warning that maintaining a final salary link for past service in LGPS is unfair to local council taxpayers.

The Fair Deal policy for public sector workers should be maintained due to its success in preventing industrial action, the GMB union told delegates.

Establishing a cap on the amount taxpayers contribute to public sector pensions will lead to more risk-averse investment strategies, delegates heard.

Warwickshire County Council pension fund has been forced to take a £5m loan to fill a cash shortfall after austerity measures put a strain on its cash flow.

Senior local government officials have written to government minister Eric Pickles warning him maintaining a final salary link for past service in LGPS is unfair to local council taxpayers.

The government must take "urgent" action to clarify public sector reforms and end the uncertainty engulfing its plans, the National Association of Pension Funds says.

Procurement of investment and actuarial services for local government schemes could be pushed into regional and national frameworks in a bid to harness efficiency savings, the government says.

One in four council workers already opt out of the Local Government Pension Scheme, with the lowest participation rates in the country at just 46%, figures show.