Board publishes statement on the purpose and governance of the LGPS 

The LGPS Scheme Advisory Board has published a new statement, Understanding the LGPS: statutory purpose, pension assets and governance. The statement explains the purpose of the LGPS, the role of administering authorities and asset pool companies under the new statutory framework, and the duties that apply when managing pension fund assets. It also highlights the scale of the scheme, the role of the Board, and why the LGPS should be understood as a funded occupational pension scheme established to pay pensions to members. The statement is intended to support informed discussion about the scheme and provide a clear overview of how LGPS governance and investment decision-making operates in practice.