Local government trade unions are fearful ministers could rush through plans to share the burgeoning cost of the Local Government Pension Scheme, The MJ has learned. Local government minister John Healey convened a meeting to discuss the future of the LGPS last week, amid evidence that some town hall pension funds are currently worth just 50% of their long-term liabilities because the recession has devalued assets. Ministers, CLG officials and unions meet regularly to discuss the LGPS and have drawn up plans to ease the rising cost of final-salary pension provision on councils, which is also linked to rapidly rising life expectancy following retirement. Commenting on last week's meeting, one senior union official said: ‘The government personnel are keen on exploring how soon some of the cost-sharing proposals could be introduced.'
