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Pensions minister promises ‘pragmatism’ on pooling deadline

(©House of Commons/Roger Harris)

With less than three weeks to go until the much-anticipated pooling deadline, pools and funds may be given some breathing room, the government suggests.

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“The LGPS has overperformed on delivering pooling,” according to pensions minister Torsten Bell, who welcomed the progress made by the scheme just weeks ahead

An increase in assets and improving funding levels paint a positive picture for the LGPS, but changes to contribution rates, valuation assumptions and costs reveal a more complex financial outlook.