The investment will fund the construction of 161 homes in Newham
Up to £500,000 of public funds will be spent on setting up special purpose vehicle (SPV) for Newham Pension Fund despite the council's oversight and scrutiny committee (OSC) calling for the project to be shelved.
Top stories on PP online this week include Mark Carney warning fund giants and potentially higher FTSE 350 DB deficits.
Employers are looking to cut contributions
Plans to release public funds on setting up a special purpose vehicle (SPV) for Newham Pension Fund have been called in by the council's overview and scrutiny (OS) committee following concerns.
Top stories this week include the Pensions Ombudsman's dismissal of a GMP equalisation claim; the MIRA Retirement Benefits Scheme's £70m buyout; and Newham Council's proposal for an asset-backed contribution structure.
Newham Council has proposed creating an asset-backed special purpose vehicle (SPV) to reduce cash contributions to finance its defined benefit (DB) pension scheme.