tag:blogger.com,1999:blog-7733583.post437997618481429062..comments2024-03-04T08:34:20.376+00:00Comments on John's Labour blog: Boris and his Pension Merger Plan to Rescue GB PlcJohn Grayhttp://www.blogger.com/profile/14269161145575667147noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7733583.post-6225918760880070892013-02-24T14:55:05.901+00:002013-02-24T14:55:05.901+00:00Well...its not. Yet. Pickles in theory the power, ...Well...its not. Yet. Pickles in theory the power, not Boris or LPFA. But there is no guarantee that if Pickles attempted to do so then he would allow the London Mayor the powers to do so.<br /><br />I'm not even sure if Boris can merge the TFL pensions funds with the LPFA. I think they are run as private sector schemes and will have deeds and independent trustees who may be able to block merger. John Grayhttps://www.blogger.com/profile/14269161145575667147noreply@blogger.comtag:blogger.com,1999:blog-7733583.post-85783259268809073982013-02-24T12:00:24.962+00:002013-02-24T12:00:24.962+00:00If it is not legal for Boris and the LPFA to do th...If it is not legal for Boris and the LPFA to do this then why is it happening?MGnoreply@blogger.comtag:blogger.com,1999:blog-7733583.post-28092526781622677802013-02-21T23:04:25.759+00:002013-02-21T23:04:25.759+00:00Hi JD
I simply don't know at this point. Ther...Hi JD<br /><br />I simply don't know at this point. There has not been enough research or debate. There may well be other ways of achieving the same aims short of merger. Some sort of consolation seems inevitable. <br /><br />The private sector is more difficult but not that different. All LGPS are multi-employer schemes. 25% of members do not work directly for local authorities. <br /><br />There use to be I think thousands of different Council pension schemes, now there are "only" 101. So merger issues were resolved. <br /><br />I think that the Government needs to intervene and sponsor sector or industry wide pension investment pools. It will be difficult but in this age of computers not impossible. <br /><br />If the optimum size of a pension fund is $20 billion then we could still have 55 UK big private sector DB schemes (and open to future accrual) John Grayhttps://www.blogger.com/profile/14269161145575667147noreply@blogger.comtag:blogger.com,1999:blog-7733583.post-83641122682134438992013-02-21T17:15:27.193+00:002013-02-21T17:15:27.193+00:00ignoring the politics bit and looking at the quest...ignoring the politics bit and looking at the question<br />"why only the LGPS?"<br />it does just make sense to bring them all under one umbrella and save the costs and increase the weight they can throw around the City - that all has to be a good thing doesnt it ?<br /><br />the private sector is different - yes you are right thousands of schemes are inefficient - but i dont see how you can bring them together - different sponsoring companies bring with them different issues, credit worthiness, attitude to risk for the widows and orphans etc<br /><br />at least with the public sector the sponsor is the same (the government)JDnoreply@blogger.com