Stoke & Staffordshire

Stoke-on-Trent City Council pension fund gap doubles

The shortfall in Stoke-on-Trent City Council's pension scheme has more than doubled in the past 12 months.

Councillors discussed the pension funding gap earlier. It has risen from £197m to about £420m.

Kieran Clarke of Staffordshire Pension Forums said the shortfall was due to the current economic climate.

He said the government was looking at the future of pension funding which would help in decisions on the council's own pension fund review.

Gaps in the pension fund were calculated by the difference in estimates of what the fund will have to pay out in the future and the value of its current assets.

More on this story

Related Internet links

The BBC is not responsible for the content of external Internet sites