Laura Sharman 11 May 2016

Union calls for law change to protect council pension fund decisions

Union calls for law change to protect council pension fund decisions image

The law should be amended to include a European directive that ensures only councils decide where they invest their pension funds, a trade union has said.

Unison has accused the Government of ignoring calls to change the law to include the directive, which states only the 89 individual funds in the Local Government Pension Scheme (LGPS) can decide where to invest pensions.

The union launched a petition last month calling for a parliamentary debate on plans to force LGPS to invest in infrastructure projects. It has been backed by more than 70,000 signatures so far.

Unison general secretary, Dave Prentis, said: 'Ministers have failed to address the key point of the parliamentary petition, which wants it written into law that council pension funds, not the government, should decide where LGPS funds are invested in the best interests of scheme members.

'It’s up to council pension funds to decide where to get the best return on their investments. Council pension funds must be able to make their own decisions, not be told where to put their cash by ministers.'

The Government has already stressed it will not force councils to invest their pensions into infrastructure schemes, adding it would only intervene if there was clear evidence a pension fund authority was not acting 'reasonably and lawfully'.

Overcoming the barriers to Commercial Card use image

Overcoming the barriers to Commercial Card use

Want to reap the benefits of Commercial Cards but coming up against some challenges? James Sykes, Head of Commercial Cards, Lloyds Bank and David Legg, Head of Corporate Card Products, Lloyds Bank, discuss how the payments industry is helping organisations unlock their true value.
SIGN UP
For your free daily news bulletin
Highways jobs

Career Grade Planning Officer

Royal Borough of Greenwich
£27978 - £37722 per annum + n/a
Career Grade Planning Officer - West Area and East Area Team The Royal Borough of Greenwich continues to faces an unprecedented growth agenda in terms England, London
Recuriter: Royal Borough of Greenwich

Highway Engineer - Reactive Maintenance

Bracknell Forest Borough Council
£35,354 - £40,506 incl. LWA, plus £963 car allowance
We make a difference to the environment we live in. Come and help us manage our highway infrastructure. Bracknell, Berkshire
Recuriter: Bracknell Forest Borough Council

Lifeguard (South Woodham Ferrers Leisure Centre)

Chelmsford City Council
Grade 3 - Starting at £18, 291 per annum, and rising to £19,515
South Woodham Ferrers is one Chelmsford City Council’s four leisure facilities, offering a variety of sporting activities where there is something ... Chelmsford, Essex
Recuriter: Chelmsford City Council

Car Park Attendant

Chelmsford City Council
Grade 3 - Starting at £18,291 per annum, rising to £19,515
We are seeking an enthusiastic and motivated individual to join our Car Park team to support with the day-to-day running of our 19 City Centre car ... Chelmsford, Essex
Recuriter: Chelmsford City Council

Lifeguard (Riverside Leisure Centre)

Chelmsford City Council
Grade 3 - Starting at £18, 291 per annum, rising to £19,515
Riverside Leisure Centre is Chelmsford City Council’s flagship leisure facility, offering a variety of sporting activities where there is something... Chelmsford, Essex
Recuriter: Chelmsford City 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