Local Government Pension Schemes are heading for an embarrassment of riches

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Financial Times 12h ago

Local Government Pension Schemes are heading for an embarrassment of riches - Financial Times

Quick Summary:

Whatever the level of funding, this led to them adopting a secondary contribution rate of *minus* seven per cent.

This means that the total (the sum of the primary and secondary) contribution rate employers pay can change only be +/-1 per cent of salary each year.

At the other extreme is Kensington & Chelsea, which has an average secondary contribution rate of almost minus seven per cent.