Key facts about the LGPS

A lot of statistics and alleged 'facts' are freely used in the current debate about public sector pension schemes and the LGPS in particular. Here we aim to put the record straight...

1. The LGPS is funded with around £120 billion of investments backing the scheme

2. The average LGPS pensioner receives around £4,000 each year - hardly 'gold plated'

3. The LGPS is cash postive - income from contributions and investment in 2008-9 was £10.2 billion whilst benefit payments were £5.6 billion

4. The number of 'fat cat' pensions is tiny - less than 1% of LPFA's pensioners receive pensions over £50,000 a year

5. Pensions may not be large but they are received for longer; 10-15 years longer than in the 1950's

6. Life expectancy is increasing by two years every decade whereas the retirement age has not increased since 1935

7. The majority of the increased costs of longevity are falling on the employer and therefore ultimately the council tax payer

8. If the costs of longevity are not addressed deficits are expected to continue to rise