Unfunded public schemes need to double contribution rate to 40%

Contribution rates for unfunded UK public pension schemes would need to double to 40% if a market-consistent discount rate were applied to their valuations, according to a member of the Public Sector Pension Commission (PSPC).

Speaking at a symposium on the future of the Local Government Pension Scheme (LGPS) in London last week, Neil Record, trustee of the Institute of Economic Affairs, and chairman and chief executive officer of Record Currency Management in addition to his role on the PSPC

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