About the Board
The Local Government Pension Scheme Advisory Board is a body set up under:
- Section 7 of the Public Service Pensions Act 2013
- The Local Government Pension Scheme Regulations 110-113.
Purpose
The purpose of the Board is to be both reactive and proactive. It seeks to encourage best practice, increase transparency and coordinate technical and standards issues.
It considers items passed to it from the Ministry of Housing, Communities and Local Government (MHCLG), the Board’s sub-committees and other stakeholders as well as items formulated within the Board. Recommendations may be passed to MHCLG or other bodies. The Board and its secretariat also have a liaison role with the Pensions Regulator. Guidance and standards may be formulated for local scheme managers and pension boards.
Establishment of the Board
In 2013 the Board was set up in ‘Shadow’ form in order to test the format, terms of reference, membership and committees prior to the formalisation of these items in the LGPS Regulations. On 1 April 2015 the Board was established as a statutory body, and the formal membership was confirmed early in 2016 with non-voting members and advisors added in the summer of the same year.
The Board is required to submit a budget and work programme to the Secretary of State each year for approval. Once approved the budget for the Board is funded via a statutory levy on LGPS administering authorities which is classified as administration expenses and therefore can be recharged to the pension fund.
Board structure
A chart showing the relationship between the Board, its committees and committee sub-groups can be found below. This chart does not include working groups, which tend to be established and closed down on a more iterative basis. Any vacancies on the working groups will be posted on the Work with Us page along with Board, committee and sub-group vacancies.
Board Policies
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