Future of Public Sector Pensions

GMPF
Background Stats
Context
Public Sector Schemes
Funding
Causes of the problem
Affordability
Volatility of Cost
Distribution of Benefits
Summary & Conclusions

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The Future of
Public Sector Pensions

Greater Manchester Pension Fund

Tameside MBC is the administering authority of Greater Manchester Pension Fund. At 31st March 2010, the Fund had over 260,000 members, over 200 employers and assets in excess of £10.4bn. This makes GMPF the largest fund in the Local Government Pension Scheme (LGPS) in England and Wales and equates to about 8% of the LGPS by value of assets.

The Future of Public Sector Pensions

GMPF has an excellent long term investment track record resulting in it having a funding level amongst the best of local authority funds and average employer contribution rates at the lower end of the range (average GM local authority contribution rate of 15% for 2010/11).

This response is submitted from an administering authority perspective with the aim of helping to inform the debate. The focus on the response is primarily LGPS related, because this reflects our experience and secondly the funded nature of the LGPS makes it different.

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