LGPS

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.

The £1.3bn Lancashire County Council Pension Fund is to increase the power of its investment panel in a bid to reach full funding.

Increasing public sector employee contribution rates is threatening a surge in opt-outs - putting Lord Hutton's call for affordable reforms at risk, a lawyer warns.

Schools switching to academy status could face higher pension contribution rates because they will no longer have the same degree of funding security as council run schools.

The European Union must forge stronger links with institutional investors to achieve its low carbon economy goals, the Institutional Investors Group on Climate Change says.