Local Government Pension Scheme

This week a group of Local Government Pension Scheme members in the South West - worth a combined £9.9bn - announced proposals to establish a framework to share actuarial, benefit and investment services, to be split into three ‘lots'.

The final salary link in public service pensions is 'inherently unfair' and can lead to high flyers getting almost twice as much back in pensions than those on more modest earnings for the same amount of pension contributions, Lord John Hutton says.

Underfunded local authorities could be subjected to indiscriminate cuts as part of George Osborne's spending review, a former local government pensions officer warns.

The London Borough of Wandsworth pension scheme has appointed Northern Trust to provide global custody and investment accounting services to £750m of assets.

UK - The Local Government Pension Scheme (LGPS) should increase its retirement age to 66 and limit pensionable pay to £75,000 ($115,000) a year, the London Pensions Fund Authority (LPFA) said in its submission to the Public Service Pensions Commission....

Current Local Government Pension Scheme funding levels cover only three-quarters of its future liabilities, an Audit Commission report reveals.

Local government pension funds have been urged to give financial backing to public building projects which risk failure due to government spending cuts.

Local government employers are facing a backlog of legal claims and mounting costs following confirmation that equal pay settlements are pensionable.

Legal & General and Hymans Robertson have unveiled a health liability insurance plan which could save local government pension scheme sponsors hundreds of thousands of pounds.

The establishment of an independent commission to undertake a "fundamental structural review" of public service pension provision is long overdue.