Board statement on publication of Phase III report
The Phase III Report builds on the recommendations agreed in 2019 with further input from a range of scheme stakeholders.
The agreed Action Plan comprises;
- Those matters that would fall to MHCLG to implement, either by amending scheme regulations or producing statutory guidance
- Those matters that would fall to the Board and other bodies to implement - subject to the actions in 1 being taken by MHCLG - and
- Actions to identify and promote existing best practice that the Board can take forward regardless of the outcome of the above.
The Board also agreed that in taking this work forward it would follow the practice adopted in preparing the guide on the new employer flexibilities by fully involving members of its committees, scheme practitioners and other key stakeholders.
Commenting on the report and action plan, Councillor Roger Phillips, Chair, said “We have reached another critical stage in this key area of work to further improve the high standards of governance and administration of the scheme on a consistent and measured basis that will better match the standards expected by the Pensions Regulator.
We must now wait to see how MHCLG responds to the Board’s proposal but we very much hope for a positive response and look forward to working alongside LGPS colleagues and those at MHCLG to progress this work. I should also take the opportunity to thank the project team at Hymans Robertson and everybody who contributed to this work for their support and resolve over the duration of the project, particularly during the COVID emergency.”