Call us on 0845 601 2923
or
 
 
 

LGPS opt outs increase

07 March 2011

It has been report in the Financial Times that the Greater Manchester Pension Fund has seen a rise of over 50 percent of workers opting out of the scheme in the past year.

The number of opt outs rose from 773 to 1,210 for 2010 and does not include those who never chose to join the scheme in the first place.

Peter Morris, director of pensions at Tameside metropolitan borough council, which operates the Manchester fund, said that based on anecdotal evidence, workers were opting out of pension savings as real incomes were squeezed by wage freezes and high inflation.

The Hutton report on public sector pensions is due out on Thursday. It is widely anticipated that a rise in employee contributions will be recommended.

Share with:
Contact us

There are a number of ways to contact us.

We regret, however, that we are unable to accept visitors at our office.

Call
0845 601 2923
or email us

Web chat
Talk to a pensions expert live now
This web chat service is available Monday to Friday (9am to 5pm) and Tuesdays (7pm to 9pm)