Proposals on overhauling the management of town hall pension schemes could deliver substantial savings to the public purse – with the potential to build to £660m annually for more than ten years, ministers have claimed.
The Coalition plans are based on an earlier public consultation and a report drawn up by city pensions experts Hymans Robertson under the government's contestable policy fund which is used to source expertise from outside Whitehall.
This latter study suggested the cost of investment for English and Welsh Local Government Pension Scheme (LGPS) funds was £790m, a figure far higher than previously estimated.
