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The agreement reached between government and unions to handle negotiations on the future of the LGPS separate from the other public sector pension schemes has been hailed as a major step forward. Commenting on the announcement, the Chartered Institute of Public Finance and Accountancy’s pension panel chair, Bob Summers said:
‘This is a common sense move. The LGPS is clearly different from the other public sector schemes on account of its funding structure and the fact that it already has a later normal retirement age (65) than other schemes. I hope that this decision will pave the way for both sides to move on and get down to the serious business of shaping the future of the LGPS.
However, I am concerned at the wider lack of progress on public service pension reform. Securing the affordability of public sector pensions remains one of the key challenges to the long term public finances and we should not let the opportunity afforded by the Hutton report to pass us by.’
Contact: Lindsay Machin / Chloe Forbes
CIPFA Press Office
t 020 7543 /5645/5787
e firstname.lastname@example.org/ email@example.com
Find the full government announcement on the negotiations at the Cabinet Office.
CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. Our 14,000 members work throughout the public services, in national audit agencies, in major accountancy firms, and in other bodies where public money needs to be effectively and efficiently managed. As the world’s only professional accountancy body to specialise in public services, CIPFA’s portfolio of qualifications are the foundation for a career in public finance. They include the benchmark professional qualification for public sector accountants as well as a postgraduate diploma for people already working in leadership positions. They are taught by our in-house CIPFA Education and Training Centre as well as other places of learning around the world. We also champion high performance in public services, translating our experience and insight into clear advice and practical services. They include information and guidance, courses and conferences, property and asset management solutions, consultancy and interim people for a range of public sector clients. Globally, CIPFA shows the way in public finance by standing up for sound public financial management and good governance. We work with donors, partner governments, accountancy bodies and the public sector around the world to advance public finance and support better public services. This includes the development of local professional qualifications in African countries like Lesotho and Nigeria and in Europe in post conflict states in the Balkans.
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