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    Local Government Pension Scheme a ticking financial time bomb
    In earlier research, the TPA has revealed that, despite taxpayers paying for massive employer contributions equivalent to £1 for every £5 raised in council tax, there is a huge £54 billion black hole in council pension schemes. There is a real risk that the cost of closing that gap will fall on taxpayers particularly because, in an ageing society, there are more and more pensioners for the active members of the schemes to support.

    New TPA research this week showed that in 2010-11 there were fewer than 1.6 active members of local government pension schemes for every one drawing a pension. Five years earlier there were nearly 1.9 active members for every one drawing a pension and in the wider UK economy there are 3.2 people of working age for each person of State Pension Age or over. To find out how dangerous your council's pensions time bomb is, you can enter your postcode on our new pensions web tool. There needs to be continuing reform to the Local Government Pension Scheme if we are going to avoid a serious liability for taxpayers.

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