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Latest public sector pensions news
Union renews call for Capita to be stripped of Civil Service pension contract
Capita has been struggling to address a severe backlog of outstanding pension payments and other issues regarding the Civil Service Pension Scheme since it took over the administration contract at the end of last year.
Capita sacked as Royal Mail administrator and slammed over Civil Service failures
The paymaster general has stripped Capita of its administration contract for the government-run portion of the Royal Mail pension scheme, and levelled further criticisms over its handling of the Civil Service Pension Scheme.
Cabinet Office to provide hardship loans to Civil Service pensioners, union says [updated]
The Cabinet Office plans to support some Civil Service pensioners as administration provider Capita struggles to cope with a backlog of tens of thousands of cases.
Employer group hits out at Teachers Pension Scheme costs
Failure to address the spiralling cost of the Teachers’ Pension Scheme could lead to “institutional failure and closure” of universities that are mandated to participate, according to the Universities and Colleges Employers Association.
Latest LGPS news
Investment roundup: LGPS funds launch housing manager; GLIL snaps up assets
Two local government asset pools are combining their property portfolios, while infrastructure manager GLIL is on the acquisition trail. Elsewhere, the British Business Bank continues to connect growing UK companies to pension fund capital.
Buying British: Railpen, Nest, LGPS pools exploring UK ‘scale up’ fund
Leading investment institutions are in talks with the British Business Bank and the Office for Investment about the creation of a £1bn fund to drive investment into domestic companies seeking scale-up capital.
Brunel’s Faith Ward joins LPPI as strategic adviser
She has also launched ‘Faith In RI’, a consultancy service that is also seeking to preserve Brunel’s work on climate and sustainable investment.
LGPS funds face growing resources squeeze, Aon poll finds
Nearly three-quarters of Local Government Pension Scheme (LGPS) funds do not have enough staff with the right skills to carry out day-to-day operations, according to an Aon poll.
Fit for the Future: Government finalises pooling rules with new deadlines
Following feedback from across the LGPS, the government has extended the deadline for pools to receive regulatory authorisation and revised the authorisations it expects them to achieve, as well as moving deadlines relating to the transfer of assets to the control of pools.
ClearGlass appointed to new LGPS cost transparency framework
ClearGlass Analytics has been appointed as an approved provider on the new National LGPS Procurement Framework for cost transparency and benchmarking services.
Lambeth among schemes backing UK venture capital investment drive [updated]
The London Borough of Lambeth Pension Fund is among several LGPS funds to have backed Schroders Capital’s UK Innovation Long Term Asset Fund, backing domestic venture capital companies.
LGPS contributions review promised after MPs reject Lords changes
MPs have voted against amendments from the House of Lords that would have brought in changes to how triennial valuations in the LGPS are handled, and allowed interim reviews of contribution rates.