LGPS contribution cut could save councils £3bn per year

LCP has called for a review of contributions to help protect councils’ financial positions

Holly Roach
clock • 1 min read
LCP partner Tim Gilbert
Image:

LCP partner Tim Gilbert

Cutting contributions to the Local Government Pension Scheme (LGPS) could save councils £3bn per year, according to Lane Clark & Peacock (LCP) analysis.

The consultancy noted due to increases in the surplus of LGPS funds of more than £100bn across England and Wales, councils could be paying more than £6bn a year into the LGPS for new benefits being...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Government confirms Emma Douglas as 'preferred' candidate for TPR chair role

Government confirms Emma Douglas as 'preferred' candidate for TPR chair role

The WPC will hold a pre-appointment hearing with Douglas next week

Holly Roach
clock 09 January 2026 • 1 min read
PDP proposes launch of private sector dashboards working group

PDP proposes launch of private sector dashboards working group

PDP proposes extending industry collaboration to support the delivery of private sector dashboards

Holly Roach
clock 09 January 2026 • 2 min read
UK Pensions Awards 2026: 2 weeks left to enter!

UK Pensions Awards 2026: 2 weeks left to enter!

This year’s awards will be held on 11 June at The Brewery in London

Professional Pensions
clock 09 January 2026 • 3 min read
Trustpilot