Once again the self appointed independent consultants and advisors line up to attack the LGPS as
unsustainable. http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7553286/Taxpayers-facing-pensions-burden-as-local-government-deficits-hit-60bn.html
But at least the LGA is able to put up a coherent argument and is quoted in the article saying..."Just like any investments made by individuals, businesses or private pension funds, investments under the local government pensions scheme can go up as well as down, but over time they are expected to perform well. "The supposed 'black hole' would only occur if every single member of the local government pension scheme retired tomorrow, which is not going to happen. Exactly, the scaremongers at the Torygraph and their lackey consultants only want one thing, lower taxes at our expense of course!
Meanwhile in the USA a report has just been published which takes a different view to the Torygraph...The Centre for State and Local Government Excellence have issued a breifing paper http://www.slge.org/vertical/Sites/%7BA260E1DF-5AEE-459D-84C4-876EFE1E4032%7D/uploads/%7BA4C648DC-F429-4173-AC57-40C8A949C259%7D.PDF on the future funding of municipal pension funds, ones just like ours! "The conclusion that emerges from this update is that while states and localities were on a path toward full funding of their pension liabilities, they were seriously knocked off track by the financial crisis".
It's the economy stupid...and once again we can confirm that the Tories have one thing in mind..making us pay for the collapse of the economy with our pensions, pay and jobs.
