A firm called Goal Group estimates that U.K. local authority pension schemes could be losing up to £125m by not filing claims in securities class action settlements. IPE.com reports that Goal Group calculates that between 2007 and 2008, U.K. local authority pension schemes lost almost £8.5bn on their investments, of which around £140m could be recovered through legal action.
The firm also estimates that local government pension schemes (LGPS) in the U.K. lost around £31bn between 2007 and 2009 but have the potential to recover £500m through settlements. If local authorities do not start to increase their participation in such settlements, however, as much as 25% of this £500m could go unclaimed.
