Mark Whitehead 18 May 2016

Employers joining LGPS 'underestimate' obligations

The number of organisations signed up to the Local Government Pension Scheme (LGPS) has rocketed, but experts have warned that many underestimate the obligations involved.

The Pensions and Lifetime Savings Association (PLSA) says many members of the scheme including universities, charities and housing associations are now questioning whether they can afford to remain in it.

It says more than 10,000 employers are now members, an increase of 14% in 2013-14, while there could be thousands more schools joining if they become academies.

The PLSA is publishing a series of guides for employers in the local government scheme, the first of which will explain what they need to know before joining.

PLSA chief executive Joanne Segars said: 'The Local Government Pension Scheme provides some fantastic benefits for its members.

'But for employers there are significant legal, financial and administrative obligations which can cause a real headache.'

SIGN UP
For your free daily news bulletin
Highways jobs

Transport and Major Work Manager

Slough Borough Council
£54,556 to £60,085 per year Inclusive of Local Weighting Allowance of £1096
Drive the future of transport and infrastructure in Slough Slough, Berkshire
Recuriter: Slough Borough Council

Head of Constitutional and Electoral Services

Redbridge London Borough Council
£89,037 - £92,538
This role will place you at the centre of political decision-making and governance in the Council. Redbridge, London (Greater)
Recuriter: Redbridge London Borough Council

Head of Community Safety

Redbridge London Borough Council
Up to £103,893 inc. market supplement
Redbridge is one of the most dynamic and diverse boroughs in London. Redbridge, London (Greater)
Recuriter: Redbridge London Borough Council

Head of Highways & Transport

Redbridge London Borough Council
£89,037 - £92,538
There is a lot going on in Redbridge. Redbridge, London (Greater)
Recuriter: Redbridge London Borough Council

Local Audit Office - Controller of Local Audit

Ministry for Housing, Communities and Local Government
£200,000 - £220,000
The Government is taking bold steps to overhaul the local audit system, leading the most transformational reform programme in over a decade Birmingham, Leeds
Recuriter: Ministry for Housing, Communities and Local Government
Linkedin Banner