Local Government Pension Scheme news
The Government published a written statement on 30th January 2019 which announced a pause in the cost cap process for public service pension schemes pending the outcome of the application to appeal the McCloud case to the Supreme Court.
On 7th February 2019 the SAB received confirmation that the cost cap pause applies equally to the LGPS as to the unfunded public service pension schemes and as such SAB has paused its own cost management process. The SAB remains committed to honouring the result of its cost management process once the outcome of McCloud is known however this is not expected to be for some months.
The LGA have confirmed employee contributions should be collected in April on the basis of current regulations.
Further information including a copy of the McCloud Appeal Court Judgement, the Written Ministerial Statement (WMS) and the letter confirming LGPS inclusion in the WMS is available on the SAB website.