Today will be the official start of Reform’s campaign to bring down the costs of LGPS and like many other things they are doing, it will appeal to ordinary people who feel helpless in the face of eye-watering expenditure which they associate with “final salary (wrongful I know) pension benefits on the LGPS “gravy train”. I know too that LGPS can explain that average payments as pensions are low ( I have seen estimates of £2- 4,000 pa per member).  I know that the possibility of excluding certain candidates for membership at the point of joining, will be deemed unfair (it has happened to staff of CIV). It will be deemed “out of the blue”.

But it is not out of the blue. These proposals of Reforms were mooted at the LGPS PLSA  conference earlier this year. I wrote about it at the time as I was in the room when it was explained by Nick Watt of Newsnight.

Supposing that because the LGPS is currently solvent – all is fine, is a very weak position to adopt when you are up against Reform, who have proved themselves very good at making themselves popular by pointing out such complacency.

I tried when I was writing that article not to be rude but it is hard not to agree that LGPS is not a populist organisation. I tried, over three days, to get enthusiasm for what could be very popular move from the LGPS. They could for instance publicise that they offer a swap my pot for a pension service to the multitude who join LGPS each year, It’s supposed to be cost neutral (though the factors used for the swap were set when annuity rates were half of what they are now). I have tried to follow up over the summer and I have got nowhere. Either LGPS go on summer, or they aren’t bothered with a member popular service and supporting it properly.

There are a lot of things that LGPS could do better at the member level. They could be good at publicising the reduced contribution/reduced benefit service they bought in – which hasn’t gone forward.

Most of all, LGPS could be taking on its actuarial paymasters, demanding money to prop up a swelling surplus. GAD down, we ought to be looking at the numbers and asking how hard hit councils like Birmingham can continue to be required amounts they cannot afford to pay while their fund is fully funded.

Today, Reform’s finance spokesperson Richard Tice will claim that LGPS is wasting £10bn pa in inefficiencies. But we were told most forcefully to meet the challenge by people outside the tent

Nick Watt speaking to an LGPS audience in June of this year.

I would add to that that it is in need of a kick up the bum with regards the initiatives it needs to take to get itself off the fat-cat pot and onto the pot marked “council payer” friend.

Toby Nangle ended the June Conference as Richard Watt had started it, by urging those managing the pension scheme to get off the fat-cat pot and to use the muscle the LGPS has to be a major force for good.

That meant for Toby, stopping investing in expensive fund of funds , rather investing directly into private investments. “Why are LGPS costs so mad” my blog asked? Nick Watt of Newsnight had asked why the LGPS were ignoring noises from Reform.

Today we can expect to see Reform expand on its theme, it is a massive populist movement in the UK which may very well become a major force in politics very soon. It is time that we woke up to the noises they are making.

Today’s the day – September 1st  – when Reform launches its report and lights the paper. I am not expecting anyone at LGPS or GAD or the many LGPS advisers and fund managers to like the sound of that (well openly) but I may be wrong.

What is going to happen is a debate which will echo through the gold-plated pension conferences over the next two months . Richard Tice’s name will be a dirty one.