By 2015-16, the taxpayer will have to contribute more than £10bn annually to make up the difference between pension contributions and pensions in payment in the public sector.
This is unaffordable and unsustainable, says Michael Johnson, the pension and saving policy analyst in his new...
Treasury proposals to increase public sector workers pension contributions by 3% over the next three years could destroy the Local Government Pensions Scheme [LGPS] and cause a mass opt-out ahead of Lord Hutton’s final report on the future of public sector pensions, the London Pensions Fund...
Pension consultant John Ralfe’s report that the deficit in the Local Government Pension Scheme (LGPS) in England has leapt to £100bn, requiring an extra £4bn a year in contributions to plug the gap, has aroused strong passions:
Graeme Muir, partner at Barnett Waddingham said...
Three out of four local government pension experts believe there is a strong case for increasing contributions from council staff into their pensions, a new National Association of Pensions Fund (NAPF) survey showed today. It attracted 149 responses, 72 of which were from those employed by...
Local authorities struggling with current market conditions need to re-examine strategic asset allocations suggests Andrew Soper,State Street Global Advisers
The past 18 months have tested most local authority pension schemes far beyond any worst case scenario they could have ever conceived of, leaving administering authorities to question their previous assumptions about risk, correlations and liquidity. At the same time, the resulting declines in...
Top execs must be more up front about their pensions
In the wake of the banking crisis and subsequent recession, there have been growing calls for shareholders – both at an individual and institutional level - to take a more active role in scrutinising the companies they own. The Boards of some of Britain’s best known companies have...
David Gallagher, Field Fisher Waterhouse, assesses the proposals for reorganising the Local Government Pension Scheme
Press reports suggest that pensions for the public sector may form a political backdrop to the forthcoming election. Do schemes for the civil service, local government workers, the NHS and teachers provide “gold plated” pensions that taxpayers can no longer afford? Or are they a fair...
The National Association of Pension Funds (NAPF) and the Local Authority Pension Fund Forum (LAPFF) have written to the chairman of every company in the FTSE 350, urging that that companies be more upfront with shareholders about the pension perks of their top executives.
The letter notes that...
