Two local government pension funds record total deficits of £14.5m

By Ann McGauran | 16 August 2019

A local government pension scheme pool has reported net retirement benefit deficits this year totalling £14.5m across two funds.

The latest accounts for Local Pensions Partnership, which reported a profit before tax for 2019 of £204,000, revealed the London Pension Fund Authority had a net retirement benefit deficit of £9.8m for 2019 – up from £7.9m in 2018. Lancashire County Pension Fund had a net retirement benefit deficit of £4.7m – up from £3.6m in 2018.

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