Abolish and replace the Local Government Pension Scheme

Summary

We urge Parliament to abolish the Local Government Pension Scheme (LGPS) and replace it with a more affordable alternative such as the NEST pension scheme. We believe this could reduce the financial burden on taxpayers and LAs, which could cut employer contributions and save taxpayer money. We feel taxpayers can no longer afford current salary and pension costs from local government. We believe these costs are a major factor behind the financial instability of many councils, which may contribute to the erosion of vital public services and, in some cases, bankruptcy. We believe public sector pensions, such as those under the LGPS, must be brought in line with private sector standards, especially in light of inflation and growing fiscal pressures.

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