Council Record Pension Deficit

Published / Last Updated on 15/12/2010

Council Record Pension Deficit

A report conducted by John Ralfe, an independent pension consultant, shows that the Local Government Pension Scheme deficit in England may have more than doubled to £100bn in the last three years.

In the past three years the value of assets in the local government scheme has risen by 8 per cent to £132bn, while liabilities have climbed 41 per cent to £232bn. According to Mr Ralfe, the rise in liabilities has been caused by a number of reasons, include an increase in the value of benefits for local authority staff.

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