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.

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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.

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Dan Peters

Popular articles by Dan Peters

  1. Unite members reject pay offer
  2. Ministers: Increase the pace of fixing unsafe buildings
  3. EXCLUSIVE: More than one in three have not published corporate or finance peer challenge in last five years
  4. New Homes Bonus expansion floated
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