Deputy Prime Minister written statement – made at on 16 June 2005.
In a statement issued on
The Committee will focus on the development and modernisation of the scheme and will consider the measures which need to be put in place to ensure the scheme's affordability and sustainability.
The Government believe that local authority employees should have a stable, strong pension scheme in which they can have confidence. It is important, however, that the balance is right between, on one hand, the cost of the scheme to the taxpayer, and, on the other hand, the value of the benefits which the scheme offers to current and future pensioners.
Further meetings of the Committee are now being arranged to ensure the implementation of essential decisions about the scheme's long-term future.