UK - The £83bn Local Government Pension Scheme is considering closing DB provision to new members of the 89 local authority schemes in England and Wales. The Department of Transport, Local Government and the Regions (DTLR) - which sets out local authority pension scheme policy via the LGPS - is undertaking a comprehensive review and considering the DB move as part of a raft of new measures.
The review has sparked fears of a reduction in local authority pension provision in a bid to restrict spiralling costs. A sustainability review on the DTLR website seen by IPN sister publication...
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