Pensions
Council 'hopeful' of avoiding pensions fine
Barnet LBC officers are ‘hopeful’ that it will not be hit by a fine of up to £50,000 from The Pensions Regulator.
Provider chosen for transparency code
Technology provider Byhiras has been selected to develop a platform that will ensure asset managers comply with the local government pension scheme’s (LGPS) code of transparency.
Two local government pension funds record total deficits of £14.5m
A local government pension scheme pool has reported net retirement benefit deficits this year totalling £14.5m across two funds.
Can't we keep things simple?
Gary Fielding would much rather get his finance team off the accounts as quickly as possible and 'engaged in helping to provide financial management'.
Woodford investors should have had clearer warnings
Kent CC and other investors in City heavyweight Neil Woodford’s fund should have been given clearer warnings about the risk of suspension before it happened, it has been claimed.
Pension pool to smash Osborne target
A local government pension pool has announced plans to accumulate more than £30bn of assets by the end of 2021, beating the Government’s original expectation.
Capita urged to make pension improvements
Barnet Labour councillors have urged outsourcing firm Capita to make improvements to the authority’s pension scheme after thousands of mistakes were found.
Independent governance reviews for pension schemes
Regular independent reviews of governance in the local government pension scheme (LGPS) will be carried out to assess the effectiveness of administering authorities’ arrangements.
The Millenial time bomb
It is time to start thinking about ways to make sure Millenials acn pay for their retirement, says Tracie Evans
Unlawful pensions judgement will apply to local government
Council pension schemes will be affected by a legal ruling that found proposed changes unlawfully discriminatory.
It's time for a radical rethink on exit payments
The Treasury's proposals for a cap on exit payments need a radical rethink - and ministers must also rapidly address a shopping list of more important issues for districts, says Ian Miller..
The pitfalls of risk and return
Kent CC hit the headlines after it tried to withdraw £263m of its pension pot from the Woodford Equity Income Fund, but had its investment frozen. Heather Jameson looks at whether Kent made a mistake – and asks what other councils can learn.
LGA: exit pay cap could inflate 'golden goodbye' values
The cash value of local government 'golden goodbyes' could increase if the Treasury proceeds with plans to cap public sector exit payments, Smith Square has warned.
Scotland to exclude pension strain from exit cap
Scotland will not follow England by counting the mandatory cost of pension strain towards the £95,000 cap on public sector exit payments, finance secretary Derek Mackay has said.
Time to evaluate the real cost of an ageing population
Recent reports have established that frail old age probably does not start until 80-plus and that more pensioners continue to work - and this gives an opportunity for public policy to be updated, says Michael Burton.
Capita to retain some Barnet contracts
Barnet LBC is to leave some outsourced services in the hands of Capita despite concerns over quality.
Pensions Infrastructure Platform optimistic despite Brexit
A vehicle designed to encourage council pension schemes to invest in UK infrastructure will not launch a fresh fund this year but remains optimistic.
Pension board requests 'blocked by pools'
Some local government pension boards are finding it difficult to obtain data from pools to allow them to fulfil their duties, The MJ understands.
Scottish pension fund highlights 'significant achievements'
A Scottish pension fund administered by Aberdeen City Council has posted a profit in excess of £300m over the last year.
Woodford moves to reassure Kent after trading suspension
City heavyweight Neil Woodford has sought to reassure Kent CC and other investors after they were blocked from withdrawing from his multi-billion pound fund.