FINANCE

Brum to save millions from up-front pensions payment plan

Birmingham City Council will pay three years of pension fund contributions up front to save more than £17m, senior councillors agreed this morning.

article-author
By Dan Peters | 21 January 2020

Birmingham City Council will pay three years of pension fund contributions up front to save more than £17m, senior councillors agreed this morning.

The council will borrow so it can take advantage of a £25.8m discount offered by the West Midlands Pension Fund (WMPF) for paying in advance instead of monthly.

Dan Peters

Popular articles by Dan Peters

  1. London Councils lobbies for single settlement for capital
  2. 500% rise in unregistered and illegal home use
  3. NAO blames council audit backlog for failure to sign off Government accounts
  4. Councils 'hamstrung' on net zero

SUBSCRIBE TO CONTINUE READING

Get unlimited access to The MJ with a subscription, plus a weekly copy of The MJ magazine sent directly to you door and inbox.

Subscribe

Full website content includes additional, exclusive commentary and analysis on the issues affecting local government.

Login

Already a subscriber?

Dan Peters

Popular articles by Dan Peters

  1. London Councils lobbies for single settlement for capital
  2. 500% rise in unregistered and illegal home use
  3. NAO blames council audit backlog for failure to sign off Government accounts
  4. Councils 'hamstrung' on net zero
footer-logo

©2024 Hemming Group Limited. Registered in England and Wales. Registered No: 490200. VAT number GB342 023 408