Mon, 23 Feb 2026

Mon, 23 Feb 2026 Reform vows to overhaul pension schemes for new local government workers

Reform plans to end more generous defined benefit pension schemes for new local government workers if it wins office

* Reform government plans: + End defined benefit pension schemes for new local government workers + Merge nearly 100 separate schemes into a £500bn British Sovereign Wealth Fund + Increase investments in UK companies, products, housing, and infrastructure by £100bn + Ditch environmental targets and scrap new employment rights, including protections around sick pay and unfair dismissal
* Criticism from Labour Party: + Reform has "formally declared war on British workers" with its plans to wind back workers' rights + Nigel Farage's party is trying to "rip up hard-won workers' rights" on parental leave, sick pay, and cut clean energy jobs
* Pensions expert John Ralfe criticizes the plan: + Local government pension schemes have made promises to members to pay guaranteed inflation-linked pensions, unlike other sovereign wealth funds + The proposal is "wide of the mark"
* Shadow Chancellor Sir Mel Stride says Reform's plans will not fix the economy: + Rebranding a government pension scheme does not make a sovereign wealth fund + The substance of Reform's plan is lacking
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