Comment on the McCloud consultation
08 Oct 2020
Commenting on the McCloud consultation as the formal response draws to a close, Catherine McFadyen, Head of LGPS Consulting, Hymans Robertson, says:
“We agree with the ambition this consultation is trying to achieve, and welcome attempts to address the age discrimination inherent in the current arrangements. It will require a significant amount of administration and communication resource. Our analysis shows that calculations will be required to check the records of around 1.2 million members in LGPS funds across the UK, equivalent to roughly a quarter of all members. It’s now also important for MHCLG and Treasury to complete the Cost Management valuation process, making the appropriate allowance for McCloud, to ensure there is not further confusion over what benefits members are earning over this period.”
Please see here for our formal consultation response.