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

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

90% of pension providers expect to meet dashboard connection deadlines, PDP finds

90% of pension providers expect to meet dashboard connection deadlines, PDP finds

Majority of FCA-regulated providers are confident of meeting requirements

Holly Roach
clock 23 April 2025 • 1 min read
Rising Star Awards 2025: Nominations open!

Rising Star Awards 2025: Nominations open!

Recognising and celebrating the pension industry’s rising stars

Professional Pensions
clock 23 April 2025 • 2 min read
News Digest: Minister declares Civil Service Pension Scheme delays 'sorted'

News Digest: Minister declares Civil Service Pension Scheme delays 'sorted'

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 23 April 2025 • 1 min read
Trustpilot