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This document provides the government’s response to the call for evidence into structural reform of the Local Government Pension Scheme.
In addition to this paper, the government has responded to the call for evidence by publishing a consultation on principles for reform, which provides fuller details of the government’s proposals.
The government has launched a call for evidence into ways of significantly reducing the costs of the Local Government Pension Scheme by increasing fund co-operation, transparency and accountability to taxpayers.
Figures published for the Local Government Pension Scheme show there is scope for reforms to improve performance and reduce management and administration overheads, which cost taxpayers £471 million in England. These range from £28 to over £300 per scheme member across the 89 funds.
Response to the call for evidence will help inform a consultation to be published on a number of broad principles for change that would improve the efficiency and cost-effectiveness of the scheme.