Clark urged to tackle £47 billion local government pension deficit

The survey highlighted that 35 per cent of those polled believed Clark should focus on the £47 billion deficit in the LGPS. A further 72 per cent thought their funding position would improve or flatline compared to two years ago, while 22 per cent thought their overall funding level would deteriorate.

NAPF chief executive Joanne Segars acknowledged that: “The LGPS is a great scheme, but we know there is room for improvement. And one of the great strengths of the scheme is that drive for continual improvement – that common ambition to deliver a lasting and sustainable LGPS that binds us together.”

Segars, who was speaking at this years NAPF annual conference, also said that the LGPS will need to ‘cut a good and sensible at through the noise’, as managing the £47 billion deficit would be the ‘defining issue’ for the LGPS in the coming years.

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