Magazine article Public Finance

MPs Want Pension Deal Extended to LGPS

Magazine article Public Finance

MPs Want Pension Deal Extended to LGPS

Article excerpt

Sixty-six MPs have signed a parliamentary motion urging Deputy Prime Minister John Prescott to extend last weeks surprise deal on unfunded public sector pensions to local government.

The growing support for concessions on employees' retirement plans to be extended to the Local Government Pension Scheme has heaped pressure on Prescott in advance of a critical LGPS meeting.

Prescott will chair the government/ employers/trade union tripartite committee on November 2. He will be presented with evidence from Unison of widespread MPs' support for the Public Services Forum deal on pensions to be extended to town halls.

Trade and Industry Secretary Alan Johnson last week reached agreement with unions representing millions of health, education and civil service staff that he would not raise the pension age for existing pension scheme members from 60.

In return, the unions involved have provisionally agreed that new members to occupational schemes would have a pension age of 65 from 2006. …

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