Responses to government consultations
28 January 2015 - Shadow Scheme Advisory Board publishes Local Pension Board Guidance, template terms of reference and response to the governance guidance consultation
The Shadow Scheme Advisory Board (SSAB) of the Local Government Pension Scheme (LGPS) in England and Wales has today issued guidance for Administering Authorities on the creation and operation of local pension boards.
One of the final pieces of the public service pensions reform jigsaw for the Local Government Pension Scheme (LGPS) in England and Wales which started with Lord Hutton's recommendations back in March 2011 will fall into place on 1 April 2015. This means that each Administering Authority in the LGPS must establish a local pension board by 1 April 2015.
The introduction of Local Pension Boards via the Public Service Pensions Act 2013 and through LGPS scheme regulations from 1 April 2015 marks a sea change in the governance of LGPS funds. In recognising this huge change in the governance of the LGPS the SSAB has provided practical assistance to Administering Authorities in the form of this comprehensive guidance which has benefited from the input of and consultation with a wide cross section of LGPS stakeholders.
A template terms of reference and response to the consultation on the Guidance has also been released.
All the above documents are available on the Board Guidance page of the website.
28 January 2015
24 November 2014 - Shadow Scheme Advisory Board responds to consultation on governance and cost control
The Shadow Scheme Advisory Board submitted its response to the DCLG consultation Better Governance & Improved Accountability in the Local Government Pension Scheme on Friday 21st November 2014.
The Board's response was based on the discussions held at its meeting of 29th October and in its response, the Board outlined:
- it's belief that governance regulations should mandate that the total number of employer and member representatives on a local pension board should outnumber the members of a local pension board sitting on there as 'otherwise appointed' representatives to ensure proportionate representation, and
- it's wish to see that further details regarding the establishment of the statutory scheme advisory board are clarified as soon as possible.
The response of the Shadow Scheme Advisory Board can be found here.
24th November 2014
The shadow Scheme Advisory Board (SSAB) has responded to the Government's consultation, The Local Government Pension Scheme (Amendment) Regulations 2014 - Draft Regulations on Scheme Governance.
The response sets out the Board's views on the draft regulations which will bring about the new governance arrangements for the LGPS in England & Wales, as mandated for under the Public Service Pensions Act 2013.