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Reform UK accuses LGPS of ‘rip-offs, decadence and complacency’

(Richard Tice, Shutterstock)

Reform UK’s deputy leader Richard Tice has taken aim at the Local Government Pension Scheme (LGPS), accusing it of mismanagement and suggesting that the pools should be taken over by Reform officials.

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Speaking at a press conference in London, Tice – formerly chief executive of a property development company – argued that councils could cut between

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.