'Independent body needed' to handle LGPS, says expert

摘要

An independent commission should be set up to ensure the long-term sustainability of the Local Government Pension Scheme (LGPS), an influential expert has claimed.Anthony Mayer, chair of the London Pension Funds Authority (LPFA), also called for a minimum funding threshold for the LGPS, forcing councils to ensure that their scheme assets equated to at least 80% of their long-term retirement liabilities.To enforce this, Mr Mayer said, the independent commission should be given powers to force councils to increase payments into their LGPS fund, when necessary.Mr Mayer outlined his 'three-point plan' at an LPFA conference in the capital on 24 February, although other experts immediately questioned how any commission could be truly 'independent'.