Pensions | LocalGov


Ministers tell pension pools to merge 15/04/2025 Two local authority pension pools have reacted angrily after their plans to meet new standards were rejected by ministers.
Government green lights Plymouth financial support 25/03/2025 The Government has green lighted Exceptional Financial Support (EFS) worth £72m for Plymouth City Council following a review of its finances.
UNISON: Reorganisation must not be ‘cover for job cuts’ 20/03/2025 The abolition of district councils as part of local government reorganisation puts thousands of frontline jobs at risk, says UNISON.
Barnet issues s114 over unauthorised payments 24/01/2025 Barnet LBC has issued a section 114 notice over ‘unlawful' payments to and from the council's pension fund.
Councils challenge Chancellor over pension ‘megafunds’ 16/01/2025 Councils in England and Wales have spoken out against the Government’s plans for pension ‘megafunds’, warning they could lead to conflicts of interest.
North Lincs offers pensioners free air fryers 04/12/2024 North Lincolnshire Council will use funding from the household support fund to offer pensioners a free air fryer.
Chancellor confirms pension ‘megafund’ plans 14/11/2024 Chancellor Rachel Reeves has confirmed plans to merge local government pension schemes into ‘megafunds’ to drive economic growth.
Reeves to call for consolidation of £354bn council pension funds 11/11/2024 Rachel Reeves is set to announce plans to encourage consolidation among local government pension funds to reduce costs and boost infrastructure investment.
Lib Dems call for cross-party talks on social care ‘postcode lottery’ 09/10/2024 The Lib Dems have repeated their call for cross-party talks on social care after revealing a steep rise in the number of pensioners per care home.
Council pension funds criticise listing rule reforms 07/10/2024 An alliance of council pension schemes has criticised the London Stock Exchange (LSE) over proposed changes to Financial Conduct Authority listing rules.
£68m in Pension Credit is unclaimed, Kent says 30/09/2024 Almost 18,000 households in Kent could be missing out on a combined £68m in unclaimed Pension Credit, according to the county council.
Starmer defeated in winter fuel payment vote 25/09/2024 The Labour leadership has lost a union-sponsored motion at the party’s conference that called on ministers to reverse the cuts to winter fuel payments.
Government urged to reverse fuel payment cuts 20/09/2024 Councillors in Stockton have backed a motion urging the Government to reverse its ‘deeply unfair’ decision to stop providing the Winter Fuel Payment to millions of pensioners.
Greater data sharing call after Reeves restricts winter fuel payments 10/09/2024 A group of 14 local authorities has written to Cabinet ministers to call for greater data sharing from central government to increase pension credit claims.
Council staff face ‘hardship’ as they wait months for pensions 02/09/2024 Former council workers in the West Midlands are waiting months to receive their pensions after retiring, creating ‘huge hardship issues’, trade unions and a council have warned.
Call for Reeves to remove barriers to pension investment 09/08/2024 The chancellor has been urged to make a ‘concerted effort' to break down barriers to investment so the local government pension scheme can boost growth.
Warning over cuts to Winter Fuel Payment 05/08/2024 Tens of thousands of older people face a financial cliff-edge because of changes to the Winter Fuel Payment, new analysis has revealed.
LGPS reform could unlock £40bn of infrastructure investment 24/07/2024 Reform of the Local Government Pension Scheme (LGPS) could unlock £40bn of investment for infrastructure, an insurance company has estimated.
Extinction Rebellion activists scale council office 10/07/2024 Campaigners climbed onto the roof of East Sussex County Hall yesterday to demand the authority stops investing its pension fund in fossil fuels.
LGPS quizzed in Labour economic growth push 04/07/2024 Labour has been asking local government pensions schemes their views on greater ‘investment into the UK’ as they look to drive growth, consultant says.
Rising Trends: Local authority pension fund investment 02/07/2024 Jessica Bowles, director of strategic partnerships and impact at Bruntwood SciTech, discusses the rising trend of council pension fund investment in property.
Annual welfare spending to rise by £20bn 13/06/2024 Welfare spending is set to increase by £20.8bn a year by the end of the next parliament, a think-tank has found.
Pension funds told to report annually on pooling progress 17/05/2024 Local Government Pension Scheme (LGPS) funds should report annually on progress against pooling and private equity investments, fresh guidance has said.
Majority of pension fund leaders planning infrastructure investments 01/05/2024 Almost two-thirds of UK pension fund leaders are expecting to increase their investment in UK infrastructure during the next 12 months, a survey has revealed.
Grant Thornton fined over pension audit 08/04/2024 Grant Thornton has been fined by the Financial Reporting Council for ‘failures’ in its audit of an unnamed local authority’s pension fund.
Apple to pay £385m for council pension fund loses 18/03/2024 A group action lawsuit led by Norfolk County Council has forced the tech giant Apple to payout £385m in compensation for pension fund loses.
Councils urged to review ‘excessive’ pensions contributions 26/01/2024 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 27/11/2023 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 22/11/2023 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 23/10/2023 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 23/10/2023 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 13/10/2023 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 03/10/2023 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 27/09/2023 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 30/08/2023 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 22/08/2023 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 28/07/2023 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 27/07/2023 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 20/07/2023 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 14/07/2023 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 28/06/2023 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 27/06/2023 The Local Government Pension Scheme (LGPS) achieved growth in a turbulent 2021-22, according to an annual report.
Gove to pursue council boycott ban 19/06/2023 Legislation aimed at preventing councils from launching their own boycotts has been introduced to Parliament.
Pension figures lobbying over active management 08/06/2023 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 01/06/2023 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 22/05/2023 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 11/05/2023 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 02/05/2023 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’ 24/03/2023 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 21/03/2023 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 15/03/2023 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 07/03/2023 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 01/03/2023 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 28/02/2023 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 22/02/2023 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 13/02/2023 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 10/02/2023 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 10/02/2023 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 09/02/2023 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 19/10/2022 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 31/08/2022 Tricia Ward argues private markets offer LGPS the ability to generate tangible, real-world impact.
LGPS funds 'optimistic' about funding levels post valuation 11/07/2022 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 29/06/2022 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 15/06/2022 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’ 14/06/2022 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 13/06/2022 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 07/06/2022 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 29/03/2022 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 14/03/2022 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 03/03/2022 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 16/02/2022 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 02/02/2022 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 20/01/2022 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 19/11/2021 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 03/11/2021 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 19/10/2021 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 02/06/2021 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 25/05/2021 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 28/04/2021 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 10/03/2021 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 23/02/2021 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 20/01/2021 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 06/01/2021 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 08/12/2020 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 03/12/2020 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 15/10/2020 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 14/09/2020 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 01/09/2020 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 25/08/2020 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 15/06/2020 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 14/05/2020 The Government has given the go-ahead to merge two local government pension funds.
Legal & General commits £100m pension money for affordable housing 19/02/2020 Insurance giant Legal & General has provided £100m of long term debt financing to its affordable housing business.
Barnet Council to appoint new pension fund 12/02/2020 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 10/01/2020 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 25/10/2019 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 11/10/2019 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 10/10/2019 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 04/09/2019 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 19/08/2019 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 09/08/2019 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.