£141m council pension shortfall

OLDHAM Council had a pension shortfall of more than £141 million last year.

And councils across the UK had a deficit of £54 billion, according to figures complied by the TaxPayers’ Alliance.

It warns that the shortfall is a ‘ticking timebomb’ and there are fears council tax will have to rise.

In 2010/11 Oldham had pension assets of £602m and liabilities of £734.4m.

The deficit of £141.4m is £643 per head of the borough’s population — the third highest in Greater Manchester behind Manchester and Salford.


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