Local Government Pension Scheme (“LGPS”) contributions are expected to increase from 1 April 2017 as a result of the 31 March 2016 actuarial valuation.
Company: KPMG Date added: 02-06-2016
Categories: Market Outlook
Local Government Pension Scheme LGPS
With 4.6 million members, the Local Government Pension Scheme is one of the largest public sector pension schemes in the UK. It is a nationwide pension scheme for people working in local government or working for other types of employer participating in the Scheme.
Employers in the Scheme include local authorities and public service organisations as well as other employers which provide the LGPS for their employees by becoming admitted bodies.
The Scheme is administered for participating employers locally through 99 regional pension funds.