The Government has stopped members of the Local Government Pension Scheme transferring their money while it recalculates contributions Credit: EPA/BORIS ROESSLER Members of one of Britain’s largest final salary pension schemes face a temporary ban on moving their retirement money while the Government works out how much their funds are worth.
The Local Government Pension Scheme (LGPS) covers 14,000 employers and has five million members.
A Government spokesman declined to give a deadline for the ban, leaving soon-to-be retirees in limbo, though eventually better-off.Unlike most defined benefit public sector schemes, including the NHS , pensioners in the fully-funded LGPS had been […]
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