LGA attacks 'flawed' analysis of local government pension schemes
Council leaders have attacked the Taxpayers' Alliance’s predictions on the Local Government Pension Scheme (LGPS), claiming the analysis is 'flawed and inaccurate'.
The report claims that local government pension schemes face a 'bleak future' as the number of people paying into them is falling, while the number drawing a pension is rising.
However, the Local Government Association (LGA) warns that the research is 'misleading' as the LGPS has £4bn being paid in each year than is taken out.
Sir Steve Bullock, chairman of the LGA Workforce Board, said: 'This simplistic and misleading analysis reaches several flawed and inaccurate conclusions. The LGPS funds in England and Wales hold £145 billion in investments and assets, enough to pay benefits for more than 20 years. The scheme currently has £4 billion more being paid in each year than is taken out, and the amount councils allocate to pension contributions represents just a small fraction of their budgets.
'The LGA has been working with unions to ensure the LGPS continues to be sustainable in the decades ahead. A key element is encouraging more employees to sign up to help mitigate the thousands of redundancies which resulted from the 28% cut to council budgets.'
TheLGA has submitted new pension proposals to Government, which could take effect from April 2014.
Mr Emms is still bitter & tackling the player, rather than the ball. He really needs to use his computer, in work time, for the paying customers advantage. Policemen are retiring @ 48 and having more years retired, than working, all paid for by the taxpayer How stupid is that?J Smith, Added: Wednesday, 18 July 2012 02:37 PM
"Almost every conversation in the private sector work place relates to the working conditions of the public sector". Really? What a boring place M Dewar must work. Never holidays, families, football, weather - or even the work in hand? Silly generalisations can point to an unreliable, prejudiced comment. We already know J. Smith;'s prejudices very well. And those of the TPA. I prefer to rely on unbiased, knowledgeable, fact-based assessments of which several are available.John Emms, Added: Monday, 16 July 2012 11:17 AM
Both LGA and Government are completely out of touch with what is happening in the real world. Almost every conversation in the private sector work place relates to the working conditions of the public sector. Pensions is the most popular topic and despite what the LGA say about averages etc, the private sector now know how much police, fire, health, teaching and Council employees get as a pension thus allowing them to retire in their early 50's; often to be re-employed by a different CouncilMichael Dewar, Added: Monday, 16 July 2012 10:42 AM
Trade Union lies never help their case. The average is arrived at because so many Local Gov folk are either short service, or part time. Mothers who left to look after their families and children,etc. So its disingenuous to talk about 'a lifetime of contributions' when most of their life is spent elsewhere. Many have no problem with them having a gold plated pension, just pay the rate, which is substantially more than paid now.J Smith, Added: Saturday, 14 July 2012 10:48 AM
The comment from J.Smith reveals that their prejudice is in inverse proportion to their knowledge of Local governmnet pensions. Since when is ?4000 a year - the average pension -gold plated - after a life time of making contributions ?j carolan, trade unionist , Added: Thursday, 12 July 2012 05:51 PM
Does a bear poo in the woods. The LGA has no interest in hard pressed taxpayers. We cannot afford these pensions. Which part of this do you not understand? If you want a gold plated pension pay the rate, about 30% of salary. Its for THEIR personal benefitJ Smith, Added: Thursday, 12 July 2012 12:34 PM
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