Any large-scale move to consolidate the 99 constituent members of the UK’s £180 billion Local Government Pension Scheme (LGPS) would be suboptimal, according to Mike Taylor, chief executive of the London Pensions Fund Authority (LPFA).
Taylor spoke as the LPFA launched a green paper, A fair and affordable LGPS, which is intended to establish a route-map to reform of the controversial scheme, currently estimated to have a deficit as high as £70 billion, according to consultancy Punter Southall.
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