Local government pension shortfall could have doubled to £100 billion

The pensions deficit has grown massively according to new research. Pension debt has soared to new heights. The Local Government Pension Scheme deficit in England may have doubled in size to £100 billion over the last three years if new research is to be believed. A report conducted by independent pension consultant John Ralfe found that the shortfall could be as high as 7% of the UK's annual economic output. Three years ago the deficit totalled just £42 billion highlighting how fast the debt has accumulated.