Laura Sharman 14 May 2020

Government backs merger of two council pension funds

Government backs merger of two council pension funds image

The Government has given the go-ahead to merge two local government pension funds.

It has confirmed it has decided to proceed with the merger of the Northumberland Pension Fund and the Tyne and Wear Pension Fund.

It is estimated that the newly merged fund will generate savings of up to 12% per annum, with all costs offset within three years.

The Government response stated: 'After careful consideration, the Government has decided to proceed with the merger of the two pension funds.

'The joint application which was submitted to the secretary of state in December 2019 set out a strong case for the merger of the two funds and outlined the support from key parties including both local pensions committees, both local pension boards and the six principal local authorities in the area.'

SIGN UP
For your free daily news bulletin
Highways jobs

Front-End Developer - Learning Platform

Essex County Council
Negotiable
Essex County Council (ECC) is one of the largest and most dynamic local authorities in the UK, serving a population of 2 million residents, and has a England, Essex, Chelmsford
Recuriter: Essex County Council

Personal Advisor - Leaving After Care

Essex County Council
Negotiable
Please note this is a fixed term /secondment opportunity until August 2021. (please discuss with your current manager if you are considering a secondm England, Essex, Colchester
Recuriter: Essex County Council

Personal Advisor - Homelessness

Essex County Council
Negotiable
Please note this is Fixed Term Contract/secondment opportunity until 31st March 2021. (please discuss with your current manager if you are considering England, Essex, Harlow
Recuriter: Essex County Council

Commercial Vehicle Technician

Chelmsford City Council
£30,000 per annum
We are seeking a fully trained HGV technician to work as part of the team who maintain the Council's fleet to the highest standards.  Chelmsford, Essex
Recuriter: Chelmsford City Council

Social Worker - Carer Assessment Team (Fostering)

Barnet London Borough Council
£39,040.00 - £49,950.00 Per Annum
In Barnet we value our Social Care staff and we know that our biggest and most important resource are its workforce. Colindale, London (Greater)
Recuriter: Barnet London Borough Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how how flexible workspaces can lead the way in regeneration for local authorities, Why local authority intervention is key to successful urban regeneration schemes and if the Government’s challenge of embracing beauty is an opportunity for communities.

The March issue also takes a closer look at Blackburn with Darwen Council's first digital health hub to help people gain control over health and care services.

Register for your free digital issue