The Board’s role in scheme developments
The Board will from time to time be asked by the local government minister to develop options for scheme developments for example in 2013 it was asked to assist with the process of reform which led to proposals on investment pooling.
As well as responding to requests from government the Board can also develop options and recommendations of its own in order to improve the efficiency and effectiveness of the Scheme. This has included recommendations to clarify regulations and initiatives outside of the regulations such as investment cost transparency.
Finally the Board can play a vital role in providing a route for ideas for development from the various stakeholders in the LGPS and a conduit for feedback from government to those ideas. In doing so it seeks to work closely with existing LGPS forums such as CIPFA Pensions Panel, the LGPS Technical Group and the Local Authority Pension Fund Forum.
The board is currently working on a number of development areas further details of which can be found by accessing the menu items above.