Responding to the Treasury’s announcement, ahead of Rachel Reeves’ Mansion House Speech, CPS Director Robert Colvile said:
‘The announcement that the Treasury plans to push ahead with the amalgamation of the Local Government Pension Schemes (LGPS) is very welcome. It was the CPS, in a series of reports by pensions expert Michael Johnson, that first drew attention to the fragmented, costly nature of the LGPS, which was failing to deliver value for its members.
‘We will need to see the full details – not least given the failure of previous reforms to unlock the LGPS’s potential – but there is significant potential here to cut costs, generate better returns and create a major vehicle for long-term investment.’
NOTES TO EDITORS
- Robert Colvile is Director of the Centre for Policy Studies.
- Previous CPS reports by pensions expert Michael Johnson on LGPS include:
- For further information please contact Josh Coupland on 07912 485655 and [email protected].
- The Centre for Policy Studies is one of the oldest and most influential think tanks in Westminster. With a focus on taxation, economic growth, business, welfare, housing and green growth, its goal is to develop policies that widen enterprise, ownership and opportunity.
Date Added: Thursday 14th November 2024
