UNISONActive is an unofficial blog produced by UNISON activists for UNISON activists. Bringing news, briefings and events from a progressive left perspective.

Thursday 4 March 2010

LGPS – facts are stubborn things‏

On the Public Finance website Heather Wakefield, UNISON national secretary for local government, sets out the basic facts about the Local Government Pension Scheme (LGPS:
The LGPS – unlike other ‘pay as you go’ public sector pension schemes – is a funded scheme
In 2008, the combined value of the assets of the 101 funds was £143bn – yes billion
That makes it: equivalent to around 10% of the UK’s GDP…
…Or the fourth largest pension scheme in the world, if you prefer
For more antidotes to Taxpayers’ Alliance hysteria go to:
http://opinion.publicfinance.co.uk/2010/03/chelsea-pensioners-by-heather-wakefield/