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Local Government: Pensions

Volume 496: debated on Wednesday 9 September 2009

To ask the Secretary of State for Communities and Local Government what plans he has for the future of the Local Government Pension Scheme in respect of arrangements for (a) new and (b) current local government employees; and if he will make a statement. (290734)

The affordability, viability and the fairness of the Local Government Pension Scheme to taxpayers is kept under regular review. The triennial actuarial valuation exercise of all 89 Scheme pension funds ensures that their pension liabilities can be met, sets affordable employer contribution rates and maintains on-going stability and discipline in overall funding. Regulatory changes to ensure an equitable balance between employers' and members' contributions towards the cost of providing pensions are already in place. If further amendments to the Scheme became necessary, a consultation with Scheme stakeholders will take place, as required by the Superannuation Act 1972.