Pensions | LocalGov

Councils urged to review ‘excessive’ pensions contributions


Councils should review ‘excessive’ pensions contributions to help ease the sector’s financial pressures, new analysis has found.

Getting the most out of LGPS funds


Isio partner and Public Services leader Steve Simkins reflects on the Autumn Statement announcement of a surprise Local Government Pension Scheme (LGPS) target.

Autumn Statement: Hunt announces surprise LGPS plan


The Chancellor has announced a surprise target to ensure all Local Government Pension Scheme (LGPS) funds are invested in asset pools of £200bn or more.

Turning pensions into fossil fuel playthings


Robert Noyes, Platform London, argues that if councils are serious about net zero, then local government pension funds must divest from fossil fuels.

Over £12bn of council pensions invested in fossil fuel


Over £12bn of local government pensions are invested in the fossil fuel industry, environmental campaigners have revealed.

Local authority pension schemes invest £330m in renewables


Six local authority pension schemes have agreed a multi-million-pound deal to invest in renewables projects in the southwest.

Council pension funds call for climate vote


Local authority pension fund managers have urged FTSE companies to give shareholders more of a say on plans to reach net zero.

Pension consultants ramp up opposition to pooling reforms


Council pension consultants have intensified opposition to Whitehall’s plan for a single model for pooled funds before a key Government consultation closes.

Plymouth reaches impasse with auditor


Auditors could issue a qualified opinion on Plymouth City Council’s accounts after questioning its methods to pay off a multi-million pound pension deficit.

Sadiq Khan expands Pension Credit campaign


The Mayor of London, Sadiq Khan, has announced the expansion of a scheme that has helped Londoners receive an additional £8.4m in unclaimed Pension Credit.

LGPS staff voice workforce concerns


Nearly a quarter of local government pension scheme (LGPS) employees feel they do not have the right staff in place, a new survey has revealed.

'Flawed' climate change advice putting pension funds at risk


Local Government Pension Scheme (LGPS) funds are being put at risk by ‘flawed’ advice on the financial impact of climate change, according to a new study.

Navigating the great LGPS investment reset


Tom Pilcher, director in Redington's Investment Consulting team, looks at the Government’s ambitions for the Local Government Pension Scheme (LGPS).

West Midlands Pension Fund announces first investment


The West Midlands Pension Fund has invested in a private company for the first time through a £25m fund.

New Local Government Pension Scheme resources published


The Pensions and Lifetime Savings Association (PLSA) has published a guide for employers participating in the Local Government Pension Scheme (LGPS).

LGPS weathers turbulent year


The Local Government Pension Scheme (LGPS) achieved growth in a turbulent 2021-22, according to an annual report.

Gove to pursue council boycott ban


Legislation aimed at preventing councils from launching their own boycotts has been introduced to Parliament.

Pension figures lobbying over active management


Council pension figures are lobbying for active management in case the Treasury renews pressure on the scheme’s funds to use cheaper passive investment.

Consultation on £1.8bn LGPS change launched


The Government has launched a consultation seeking views on changes to the Local Government Pension Scheme (LGPS).

Pension fund managers called to account on climate


Local government pensions expert has demanded a meeting with fund managers amid concerns about how investment managers use proxy votes at shareholder meetings.

Shell hits back after council fund criticism


British multinational oil and gas firm Shell has defended its plans after criticism by UK local authority pension funds.

Nearly £19bn of benefits go unclaimed


The total amount of unclaimed income-related benefits and social tariffs is now £18.7bn a year, a new study has found.

Councils targeted in climate change ‘day of action’


Councils, pension funds and financial institutions are being targeted in a ‘day of action’ to address fuel poverty, climate change and the energy crisis.

Pension changes could ease recruitment pressure


Changes to the pension rules could ease the pressure on senior recruitment in local government, sector figures have suggested.

Council pension fund managers support social investments


Most local government pension fund managers support investment that can achieve positive social benefits as well as financial returns, according to a survey.

Camden first to publish pension gender gap


Female Camden LBC employees receive a quarter less from their pensions than male employees, according to first pension gender gap report by a council.

Local government pension schemes to increase health sector investments


A survey of Local Government Pension Scheme (LGPS) fund professionals reveals that the majority would like to increase their investment in the health sector.

How institutional investors can boost the UK’s private rented sector


Cedric Bucher, CEO, Hearthstone Investments, looks at the role of institutional investors, such as local authority pension funds, in delivering housing.

Two more LGPS investors back affordable housing fund


Two LGPS investors have invested in the UK Affordable Housing Fund (AHF), which focuses on social and affordable rented housing.

Growth for pension pool despite Covid


One of local government’s biggest joint pension partnerships has now pooled £47.5bn of the £60bn assets under its management.

Fresh pension pooling call


A senior local government pensions figure has called for the sector to bring more assets into pools ahead of a long-awaited Whitehall consultation.

London CIV backs Shell legal battle


A lawsuit against energy giant Shell’s directors has been backed by a key local government pensions organisation.

Public sector pension funds call for ‘Say on Climate’ vote


Public sector pension funds have written to all FTSE listed companies requesting that they give shareholders a vote on plans for reducing emissions.

Local government pension payments could rise due to inflation


Future pensioner payments into local government pension schemes could be higher than assumed due to most LGPS Fund liabilities being uncapped to inflation.

When private assets and responsible investing converge


Tricia Ward argues private markets offer LGPS the ability to generate tangible, real-world impact.

LGPS funds 'optimistic' about funding levels post valuation


Nearly half of Local Government Pension Scheme (LGPS) funds expect to be more than 100% funded at their next valuation, new research has revealed.

LGA Conference: Sector should consider offering four-day week


Councils may have to consider offering a four-day week in order to attract the staff desperately needed by the sector, a workshop at the Local Government Association’s (LGA) annual conference has heard.

Council chiefs urge pensioners to apply for cost-of-living benefits


Local authority leaders today called on pensioners who are eligible for Pension Credit to apply for the top-up welfare payment to help with the cost of living.

Local government pension schemes urged to work in ‘coherent way’


The regulatory framework around local government pension schemes should work in a more ‘joined-up and coherent way’, new report says.

Local government pension schemes set to increase private investments


Local government pension funds are set to invest more in private markets due to increased confidence in the levels of transparency, new research has revealed.

LGPS funds plan to increase local social investing


Nearly nine out of ten (89%) Local Government Pension Scheme (LGPS) funds are planning to increase their allocation to local social investing in the next few years, a new survey has revealed.

Government urges councils to review contracts with Russian companies


The Government has called on all public sector organisations, including local authorities, to urgently review contracts with Russian and Belarussian companies.

Gove urges pension funds to add to Russian pressure


Levelling up secretary Michael Gove has urged local government pension scheme (LGPS) committee chairs to consider what more they can do to exert pressure on Russia.

Council pension funds look to disinvest in Russian assets


Local government pension funds have taken action to move investments away from Russian assets following the invasion of Ukraine.

Council embroiled in legal battle with Apple over pension losses


Norfolk CC has won first round of a legal battle with Apple who the council claims ‘misrepresented’ the state of its business leading to pension fund loses.

Council pension schemes urged to invest in local economies


Local government pension funds will be targetted to pump billions of pounds into regional economies as part of the new levelling up White Paper.

Councils urged to stop using pension funds to invest in factory farming


Environmental and animal rights campaigners have called on local authorities to divest money in their pension funds from factory farming.

Council votes to disinvest £40m from fossil fuels


Luton Council’s full council meeting has passed a resolution calling for its pension fund to disinvest almost £40m from fossil fuel firms.

Councils urged to divest pension funds


Campaigners are staging protests across the UK today, calling for councils to divest pension funds from fossil fuels.

Pension funds urged to help achieve green economy switch


Parliamentarians have urged local government pension funds to play an active role in achieving a ‘just transition’ to a green economy.

Local government pension fund makes divestment threat


Scotland’s largest local government pension fund will drop investments in fossil fuel firms that fail to act on the climate emergency.

Pension fund joins ‘national conversation’ on retirement planning


West Midlands Pension Fund (WMPF) has become the first fund in the Local Government Pension Scheme to join an initiative that’s starting a ‘national conversation’ about retirement planning.

Local authority pension group’s fund secures £50m investment


A fund set up by pension groups in London, including Local Pensions Partnership Investments, to invest in real estate has secured a £50m investment bringing its total capital to £150m.

Local government pension fund to become net zero investor


The Avon Pension Fund has committed to becoming a net zero investor by 2050 or earlier.

Council pension funds invest nearly £10bn in fossil fuels


Nearly £10bn of local government pension funds are still invested in fossil fuels, new research has uncovered.

Inquiry launched into role of local authority pension funds in fighting climate change


A parliamentary group has launched an inquiry into how institutional investors such as local authority pension funds can help drive a ‘just transition’ to a net zero economy.

Council pension group raises concerns over Resolution Copper Project


Local Authority Pension Fund Forum (LAPFF) has raised concerns following progress on the Resolution Copper Project in Arizona.

Local government pension fund achieves 'gold standard' for administration


The West Midlands Pension Fund has become the first local government pension scheme in England and Wales to achieve accreditation from the Pensions Administration Standards Association (PASA).

The new cap on Public Sector Exit Payments


Charles Pallot outlines the new Restrictions on Public Sector Exit Payments for local authorities and the clash with LGPS strain payments.

Public sector exit cap signed into law


The £95,000 cap on public sector exit payments was signed into law last night and will come into force on November 4.

Failure to deliver pension credit costing care system £4bn a year


Failure to deliver pension credit to a million older people who are entitled to it is costing the health and social care system £4bn a year, report reveals.

Think tank proposes pension-style social care system


A pension-style model is the most effective way of fixing the social care crisis, a new report from a think tank has argued.

Local authority pension fund invests £150m in rental housing


An investment manager for local authority pension funds has invested £150m in private rental housing provider Get Living.

Pension ‘superfunds’ could aid post-Covid recovery, think tank says


Pension ‘superfunds’ should be created to invest in infrastructure as part of Britain’s post-Covid recovery, a think tank has argued.

Government backs merger of two council pension funds


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

Legal & General commits £100m pension money for affordable housing


Insurance giant Legal & General has provided £100m of long term debt financing to its affordable housing business.

Barnet Council to appoint new pension fund


Barnet Council’s policy and resources committee are set to approve the appointment of the West Yorkshire Pension Fund to administer its pension scheme.

LGPS: Unlocking infrastructure


Pension funds can play an important role backing useful projects such as railway infrastructure, water companies and green energy. Mark Whitehead met a man whose organisation invests local government pensions constructively.

Council makes 'significant' progress on its pension scheme


A new report has found the London Borough of Barnet has made significant progress in the way it administers its pension fund since an improvement notice was issued in July.

Council pension scheme invests in green fund


A council pension scheme has become one of the first to invest in a new ‘green’ fund which supports low carbon technology.

Launch of first pooled LGPS property fund


A new fund that pools the property assets of three public sector pension schemes has been launched.

Council pension fund calls on housebuilders to improve transparency


One of the biggest local government pension funds has called on housebuilding companies to improve the way they report environmental, social and governance issues.

IDS think tank calls for raise in pension age to 75


The state pension age should be increased to 75 in order to boost the economy by £182bn, says a centre-right think tank which is close to the Government.

‘Rethink’ changes to local government pension scheme, Unison warns


Plans to allow higher and further education employers to opt out of the Local Government Pension Scheme (LGPS) could cause serious cash flow problems for funds, a trade union has warned.

Hedging the currency risk


Following the recent news that Croydon Council is considering hedging the currency risk in its pension fund, Jackie Bowie offers her view on optimal strategies to achieve the best outcome.

Union hits out over changes to LGPS for non-teaching staff


A trade union has blasted government proposals to allow universities and colleges in England to opt out of the Local Government Pension Scheme (LGPS) for new non-teaching staff.

Council pension fund forum welcomes Ryanair's chair stepping down


The Local Authority Pension Fund Forum (LAPFF) has welcomed the announcement that the chair of Ryanair, David Bonderman, is stepping down from the role.

LGA faces financial headache


Smith Square has acknowledged the financial challenges it faces as it freezes subscriptions while grappling with declining Government grants and a pension scheme deficit.

Outsourced council workers to have pensions protected


Local government staff who have had their roles outsourced will receive increased pensions protections under new proposals published today.

‘Tweaking’ wealth taxes could raise £7bn a year, think tank says


Reforming Britain’s wealth taxes could help the Government raise £7bn a year by 2022-23 to help cover the cost of public services, a think tank has argued.

Council pension funds at financial risk from climate change, report warns


Local Government Pension Funds (LGPFs) are failing to protect themselves from the financial risk posed by climate change, a new report has warned today.

Council pension fund forum calls for Ryanair chair to step down


An association of council pension funds has called for the replacement of Ryanair’s chair and has urged Michael O’Leary to set out his succession plans.

Council employee convicted of £1m pension fund fraud


A former Westminster City Council employee has been convicted for defrauding the council pension fund of nearly £1m.

Local authority pension partners commits further £550m to infrastructure fund


The local authority pension partners of GLIL Infrastructure LLP have doubled their pledge to the infrastructure fund, bringing the total they have invested to more than £1.8bn.

Labour warn of £2.7bn NHS cuts due to pension bungle


The Government is planning to make £2.7bn of further cuts to the NHS before next election because of a bungle over pensions, according to the Labour Party.

Local government pension scheme makes 'significant progress'


The scheme that pays the pensions of local government workers is in a strong financial position and has made 'significant progress', according to a review.

Glasgow council announces £20m pension fund investment


Glasgow is aiming to attract high-tech American companies to the city with a £20m investment from the pension fund for council staff.

Council pension funds invest £9bn in fracking industry


More than £9bn is being invested in the fracking indistry by council pension funds, new figures have revealed today.

Recruitment problems faced by half of council pensions funds


Staff recruitment, retention and resourcing are the three greatest challenges facing Local Government Pension Scheme (LGPS) funds, according to new research.

£46bn pension fund appoints new chairman


The Northern Pool, one of the country’s largest investment funds, has appointed a new chair after the last chairman unexpectedly died at Christmas.

‘Precarious’ work could put council pension investments at risk


Investors should be wary of investing pension funds into companies that use precarious work practices, a new report has warned.

Local Pensions Partnership launches new £320m fund


The Local Pensions Partnership (LPP) today launched its first fund dedicated to investing in fixed income as an asset class.

London council approves £150m low-carbon pension investment


Southwark Council has agreed to move £150m of its pension fund into a low-carbon investment.

Government pledges to protect public services following collapse of Carillion


One of the country’s biggest construction and facilities management companies, Carillion, has gone into liquidation after struggling for the last few months.

Council pension schemes purchase shares in Anglian Water


Five council pension schemes have acquired, along with a separate company, a 15% share in Anglian Water (AWG).

Britain’s record on fighting poverty ‘at risk’


Britain’s record on tackling poverty is 'at risk of unravelling', campaigners have warned.

Berkshire Pension Fund to pool assets with LPP


The Berkshire Pension Fund has agreed to join Local Pensions Partnership (LPP) in order to pool assets and manage its liabilities.

Council pension funds benefit from climate change investment policy framework


The first climate change investment policy framework has been launched for local government pension funds.

Councils investing £16bn of pensions into fossil fuels


More than £16bn of council pension funds have been invested into fossil fuel companies, new research has revealed.

Council pension partnership launches £1.3bn Credit Fund


A £1.3bn Credit Fund has been launched by Local Pensions Partnership (LPP) to offer investors cost-effective exposure to diverse sources of return.

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