Should Reform UK close the LGPS to new members and switch new council staff to defined contribution schemes?

The Local Government Pension Scheme (LGPS) has 6.7 million members and £390 billion in assets, providing defined benefit pensions to low-paid local government workers like school support staff. Reform UK's deputy leader Richard Tice announced plans to close LGPS to new members from February 2026, moving new council employees including school support staff to defined contribution schemes. Tice claims this would save councils millions yearly by cutting employer contributions to around 10%.