COUNCILS will be able to slash the amount they pay into workers' pensions after a retirement fund posted a massive surplus.
The plan, approved by the Strathclyde Pension Fund, will unlock tens of millions of pounds for local authorities.
A senior council insider said: "It is a once in a decade opportunity.
Twelve local authorities, including Glasgow, South Lanarkshire and North Lanarkshire, are part of the multi-billion-pound SPF. A new paper revealed it is flush with cash and funded to the tune of 147 per cent.
This story is from the September 14, 2023 edition of Daily Record.
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This story is from the September 14, 2023 edition of Daily Record.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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