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Pensions and Lifetimes Savings Association guidance for employers in the LGPS

The number of employers such as universities, charities and housing associations joining the Local Government Pension Scheme (LGPS) has grown rapidly in recent years to more than 10,000 – with an increase of 14% in 2014-2013 alone. This could grow even further over the next few years if some 16,000 state schools in England ultimately become academies.

The magnitude of the legal and financial obligations faced by employers participating in the LGPS is often underestimated and as a result some entrants are beginning to question whether they can afford to stay in the pension scheme. To support these employers and local authority funds, the Pensions and Lifetime Savings Association (PLSA) is publishing a series of guides for employers participating in the LGPS. UCEA is participating in the steering group which is working with the PLSA to draft the guidance and will ensure that HE views are represented.

The first two guides are to provide ‘scheduled bodies’ with an introduction to the LGPS and ‘local government contractors’ with help navigating entry into the LGPS. Future iterations of the guidance will cover issues for participating employers and exits.

The guides can be accessed on the PLSA website.

ENDS

For further information please contact: Andy Fryer, Head of Communications and Membership (a.fryer@ucea.ac.uk) or Marc Whittaker, Communications and Events Officer (m.whittaker@ucea.ac.uk) on 020 7383 2444.