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15th October 2021 2016 SAB cost management result published

Now that HMT Directions regarding the 2016 scheme valuations are available the result of the Board's own cost management process which were agreed in the summer subject to confirmation of those Directions can be published. Details can be found on the Cost management page.

8th October 2021 HMT Cost Control Directions

On 7th October The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions 2021 were published by HM Treasury. These Amending Directions allow schemes to conclude their 2016 valuations by setting out how they must carry out the cost control element of those valuations.

6th October 2021 New minister for the LGPS

We understand that Kemi Badenoch MP will be the new minister for Local Government and will therefore take up responsibility for the LGPS. We would expect that the change of minister would lead to some delays in the current workstream but will seek to work with the Department to minimise those as much as possible.

4th October 2021 HMT responds to Cost Control consultation

HM Treasury has published the outcome to the Public service pensions: cost control mechanism consultation which closed on 19th August 2021. The response confirms that the mechanism will, from the 2020 scheme valuation, move to a reformed scheme only design with a 3% corridor and will introduce an economic check.

Although not directly addressing the concerns of the LGPS the response does acknowledge them and commits to discussing with stakeholders appropriate ways to introduce these changes, how the E&W SAB cost management process can be adapted and how the principle of that process could be extended to the Scotland and NI schemes.

21st September 2021 Public Service Pensions Bill moves toward committee stage

The Public Service Pensions and Judicial Offices Bill received its second reading on 7th September and now moves to committee stage from 11th October 2021. It is expected that government amendments at this stage will provide more detail on the application of remedy to the LGPS. The Bill page on the the parliament website contains details on timings and a first draft of the BIll and will include amendments put forward at committee.

24th August 2021 TPR publishes interim response on combined code

The Pensions Regulator has published its Interim Response to the consultation on TPR’s new code of practice. The response highlights some of the issues raised by respondents including the governing body and unregulated investments.

19th August 2021 Board responds to cost control consultation

The Board has today submitted a response to HMT consultation on the cost control mechanism (PDF 7 pages 185kb). The response was complied by the secretariat with input from the Cost Management, Benefit Design and Administration (CMBDA) committee.

19th July 2021 Public Service Pensions Bill gets first reading

Today the The Public Service Pensions and Judicial Offices Bill started its progress through parliament in the House of Lords with its first reading. Further details will follow once details of the bill itself are published.

8th July 2021 Launch of OPSC

The DWP has today launched the Occupational Pensions Stewardship Council (OPSC) which aims to develop a stronger overall voice of trustees within the market, especially in relation to service providers. It also enables opportunities for schemes to collaborate on stewardship activities such as shareholder resolutions, climate change, corporate governance and other topics.

2nd July MHCLG commences consultation on special severance payments

MHCLG has notified the SAB of a consultation on statutory guidance in respect of special severance payments. The consultation will run for 6 weeks until 13th August 2021.The guidance and covering letter can be downloaded below:

Statutory guidance on the making and disclosure of Special Severance Payments by local authorities PDF 6 pages 236kb

Covering letter PDF 4 pages 143kb

2nd July 2021 MHCLG publishes summary exit payment data

MHCLG has today published Local authority exit payments (first estimates), England, 2019-20 and 2020-21. Note that the file on the site is in OpenDocument format which you may need to convert into Excel in order to see all the data. This is the first summary of the exit payment data submitted by councils and will be followed by a further publication in the coming weeks however initial indications are that the average exit payment made in 2020-21 across local authorities was £26,000 including pension strain.

1st July 2021 TPR publishes public sector survey

The Pensions Regulator (TPR) has published its annual Public service governance and administration survey. The primary objective of the survey was to track governance and administration practices among public service pension schemes. In addition, the 2020-21 survey also included new questions on schemes’ response to the COVID-19 pandemic, awareness and perceptions of the pensions dashboards, and the actions taken by Local Government schemes in relation to climate related risks and opportunities

25th June 2021 SAB publishes response to DWP call for evidence

The SAB has submitted a response to the DWP's Call for Evidence on Consideration of social risks and opportunities by occupational pension schemes following consultation with the Board's Responsible Investment Advisory Group. The response can be downloaded using the link below:

 Response to Call for Evidence PDF 7 pages 301kb

24th June 2021 HM Treasury Ministerial statement and publication of consultations

A Written Ministerial Statement has been laid today, announcing the publication of two consultations. The first is about proposed reforms to the cost control mechanism (CCM), following the publication of the Government Actuary’s review of the mechanism. There are 3 proposed changes to the existing mechanism, the 1st would change the mechanism to operating only in the reformed schemes; the 2nd would widen the “corridor” from the existing 2% margin to 3%; and the 3rd would introduce an additional “economic check” when there is a breach of the mechanism to ensure that broader economic conditions are considered before any breach is implemented. On page 16 of the consultation document, HM Treasury notes that further consideration will need to be given to the detailed implementation of the “reformed scheme only design” in the LGPS, given the effects of the underpin. The second consultation is about the discount rate used in valuations of unfunded public service pension schemes and potential changes to the SCAPE methodology used. The primary use of the SCAPE discount rate is to determine the level of employer contribution rates in the unfunded public service pension schemes, but it is also used in the production of actuarial factors in the LGPS. Both consultations run for 8 weeks, closing on August 19th 2021.

15th June 2021 HM Treasury Ministerial statement on the Government Actuary’s final report on his review of the cost control mechanism

A Written Ministerial Statement has been laid today, announcing the publication of the Government Actuary’s final report on his review of the cost control mechanism. The WMS states that HM Treasury will respond to the report in due course. The report has 56 pages in total, including 4 appendices. There are 5 separate recommendations on potential changes to the mechanism – which applies across all public service pension schemes. Paragraph 1.17 of the report confirms that the review did not consider the separate cost control mechanism for the LGPS which is operated by the Scheme Advisory Board. The report acknowledges that the differences between the LGPS and the unfunded schemes mean that some of the recommendations, if adopted, may need revising to accommodate those differences.

15th June 2021 Updated COVID mortality impact reports published

The mortality impact reports on two LGPS funds commissioned in September 2020 have now been updated to include mortality data from the winter period and can be found on the COVID-19 Mortality page

8th June 2021 DWP publishes regulations and guidance on TCFD requirements for private sector schemes

The Department for Work and Pensions (DWP) today published regulations in parliament to require schemes with £5bn or more in assets, and all authorised master trusts, to report on how they will manage their climate risk from October this year, alongside Guidance for trustees of occupational schemes. These requirements will not apply to the LGPS however MHCLG will be consulting on regulations which will require similar levels of risk assessment and reporting later this year.

4th June 2021 SAB responds to TPR Combined Code

The Board secretariat in consultation with the Investment, Governance and Engagement committee have submitted a response to The Pension Regulator's consultation on a combined code of practice. The response is available to download on the Responses to consultations page of this site

28th May 2021 HMT issues severance guidance for rest of public sector

HM Treasury have issued Guidance on the use of Special Severance payments in relation to the public sector. This guidance does not relate to local authorities but we understand that a consultation on similar guidance may be forthcoming from MHCLG shortly

20th May 2021 Statement on local pension board meetings

The Board has issued a statement on local pension board meetings following the lapsing of the The Local Authorities and Police and Crime Panels (Coronavirus) (Flexibility of Local Authority and Police and Crime Panel Meetings) (England and Wales) Regulations 2020. The statement can be found on the Local Pension Boards page of this site.

18th May 2021 Chair launches 2020 Scheme Annual Report

At the PLSA Local Authority Conference 2021 the Board Chair announced that the Scheme Annual Report is now available on the board website.

13th May 2021 Ministerial Statement on McCloud

A Written Ministerial Statement was published today setting out the high level objectives of government in applying the remedy as required following the McCloud judgement to the Local Government Pension Scheme in England and Wales

11th May 2021 Public Service Pensions and Boycotts Bills in Queen’s speech

Today the government’s legislative programme was laid out and as expected a Public Service Pensions and Judicial Offices Bill was announced that will deal with the amendments necessary to incorporate the McCloud judgment into public service schemes including the LGPS. The Bill is UK wide in scope.

The programme also includes a Boycotts, Divestment and Sanctions Bill the purpose of which will be to stop public bodies from taking a different approach to UK Government sanctions and foreign relations and will cover purchasing, procurement and investment decisions. The gov.uk website includes a briefing note on the full programme.

28th April 2021 - Board Chair announces RI A-Z

The Board Chair Cllr Roger Phillips announced the launch of the A-Z of Responsible Investment at the Local Authority RI Seminar (LARIS). This online resource contains definitions and links to further information on the wide variety of the acronyms, organisations, measures and standards in this area as well as example case studies. The guide will be regularly updated to take account of this fast changing area and is part of the Board's ongoing RI project. A link to the guide can be found on the right hand side of this page.

25th March 2021 - Remote meetings legislation not to be extended

Luke Hall MP wrote to councils on 25th March 2021 explaining that the legislation enabling remote meetings will not be extended. The letter sets out examples of actions, and includes a link to guidance, to mitigate the potential risks of face to face meetings and encourages the continued use of remote facilities for public access.

24th March 2021 - DWP call for evidence on social investment

A call for evidence entitled Consideration of social risks and opportunities by occupational pension schemes was launched by DWP on 24th March and will run until 16th June 2021. The consultation seeks views on the effectiveness of occupational pension scheme trustees’ current policies and practices in relation to social factors, how trustees understand “social” factors and how they seek to integrate considerations of financially material social factors into their investment and stewardship activities.

23rd March 2021 -Government publishes response to indexation consultation

HM Treasury has published its response to the Guaranteed Minimum Pension Indexation consultation, which ran from October to December 2020 . The response sets out that the government has decided to discount conversion as a long-term policy solution for equalisation and make full GMP indexation the permanent solution for public service pension schemes.

10th March 2021 - Exit cap guides on lgpsregs updated

The step by step guides for Administering Authorities and Employers on the lgpsregs site have now been updated to take account of the revocation regulations and the requirement for payment of interest on exit payments by employers. See the public sector exit payments page. for further information.

10th March 2021 - SAB Chair's statement on the RIAG

At the first meeting of the Board's brand new Responsible Investment Advisory Group on 3rd March 2021 the SAB Chair welcomed its membership and stressed the importance of the work of the Group going forward. The Responsible Investment page includes the statement in full together with more information on the RI project and the RIAG

8th March 2021 - Lifetime Allowance frozen

In the Budget on March 3rd 2021 the Chancellor announced that the Lifetime Allowance (LTA) – the maximum amount (of pension plus lump sum) that can be drawn from a pension scheme without triggering an extra tax charge – will, instead of being increased each year in line with the annual (September) CPI figure, be frozen at its current level (£1,073,100) until April 2026. Further details on the LTA can be found on the news page of the lgps member website ..

4th March 2021 - MHCLG letter to authorities on exit cap and further reform

Today MHCLG issued a letter withdrawing its letter of 28th October 2020. More details and a link to the letter can be found on the public sector exit payments page.

2nd March 2021 - Employer Flexibilities guidance published

MHCLG has today published statutory guidance to assist LGPS administering authorities and scheme employers in implementing and operating the regulations on employer flexibilities introduced in September 2020. The guidance covers Regulation 64 (Deferred debt agreement); Regulation 64A (Revision of rates and adjustment certificate) and 64B (Spreading of exit payments). More detailed guidance prepared by the Scheme Advisory Board to be read in conjunction with MHCLG’s statutory guidance has been prepared.

26th February 2021 - Exit cap revocation regulations laid

On 25 February 2021 revocation regulations were laid before parliament. More details and a link to the regulations are on the public sector exit payments page.

24th February 2021 - Exit cap guides on lgpsregs updated

The guides for administering authorities and employers have been updated in line with legal advice. See the public sector exit payments page. for further information.

19th February 2021 Commentary on legal advice - pre 12 Feb leavers and cash alternative payments

There is now a commentary on legal advice received from the Board's legal advisor in relation to pre Feb 12 leavers and cash alternative payments on the public sector exit payments page.

17th February 2021 - Exit cap guides updated

The Employer and Administering Authority guides on lgpsregs have been updated- see the public sector exit payments page for more information

15th February 2021 - Good Governance report published with Board statement

When it met on the 8th February the Board agreed that the Good Governance – Final Report should be published and for the Chair to submit the Board’s Action Plan  to the Local Government Minister for consideration. See the Good Governance project page for a statement from the Board and more information on the project.

12th February 2021 - Exit cap switched off by HMT

HMT directions have disapplied parts of the exit cap regulations effectively switching off the cap from today in England - see the public sector exit payments page for more information

11th February 2021 - Government launches consultation on minimum pension age

A consultation entitled Increasing the normal minimum pension age: consultation on implementation was launched on 11th February and runs until 22nd April 2021. The consultation proposes that the minimum pension age would increase from 55 to 57 in 2028.

11th February 2021 - Pension Schemes Bill receives royal assent

The Pension Schemes Bill has now received royal assent and becomes the Pension Schemes Act 2021. Elements which will impact on the LGPS include Climate risk reporting and the pensions dashboard.

27th January 2021 - Government launches consultation on climate risk

A policy consultation response and Consultation on regulations entitled Taking action on climate risk: improving governance and reporting by occupational pension schemes was launched today and runs until 10th March 2021. The scope of the regulations do not include the LGPS however regulations are expected from MHCLG to substantially mirror the requirements set out in this document.

13th January 2021 - Exit payments page updated - Impact of Judicial Review timing

The public sector exit payments page of this website has now been updated to include the impact of the timing of the Judicial Reviews on MHCLG regulations and Pensions Ombudsman cases

4th January 2021 - Exit payments page updated - Judicial Reviews to go ahead

The public sector exit payments page of this website has now been updated to include news on the Judicial Reviews of the exit cap regulations

9th December 2020 - Exit payments page updated - SAB response to MHCLG draft regulations

The public sector exit payments page of this website has now been updated to include the SAB response to the draft MHCLG regulations on exit payments and further reform

9th November 2020 - Exit payments page updated - Information for Administering Authorities

The public sector exit payments page of this website has now been updated to include a link to exit cap information for administering authorities on the lgpsregs.org site

5th November 2020 - Exit payments page updated - Information for Employers

The public sector exit payments page of this website has now been updated to include a link to exit cap information for employers on the lgpsregs.org site

2nd November 2020 - update to COVID-19 page - Follow up survey results

The Covid-19 information and updates page has been updated with the results of the follow up survey.

30th October 2020 - Exit payments page updated

The public sector exit payments page of this website has now been updated to include a commentary on legal advice received in connection with the introduction of the £95k cap before pension regulations have been amended

28th October 2020 - £95k cap letter

A letter has been sent from the Local Government minister to all administering authorities, in respect of the implementation of the public sector exit payment regulations from 4th November. The Board has also been sent a copy of the letter and are considering its contents alongside legal advice it is currently obtaining on this matter. Once HMT guidance and directions on the cap are published (expected to be later this week) the Board will publish the legal advice together with a commentary for administering authorities and scheme employers.

21st October 2020 - Exit payments page updated

The summary on the public sector exit payments page of this website has now been updated to include a statement regarding the period of legal uncertainty faced by LGPS administering authorities from 4th November until LGPS regulations are amended

15th October 2020 - Exit cap regulations made

The summary on the public sector exit payments page of this website has now been updated to take into account the making of the public sector exit payment regulations which will come into force on 4th November.

6th October 2020 - Final SAB McCloud response

The Final SAB response (PDF 19 pages 291kb) to MHCLG's consultation on Local Government Pension Scheme is now available to view and will be submitted by the end of this week: 8 October 2020

28th September 2020 - Draft SAB McCloud response

The Draft SAB response (PDF 20 pages 376kb) to MHCLG's consultation on Local Government Pension Scheme – amendments to the statutory underpin is now available to view. It has been cleared by the Board's McCloud policy group but has been circulated to the full Board for any final comments by the end of this week.

14th September 2020 - Public sector exit payments summary updated

The summary on the public sector exit payments page of this website has now been updated to take into account the MHCLG consultation on changes required to implement the £95k cap and further reform of compensation payments.

7th September 2020 - MHCLG £95K cap consultation published

MHCLG have today published a consultation on changes to pension and compensation regulations to introduce the £95k cap and elements of further reform of exit payments. The exit payment cap summary will be revised once we have had chance to read through the consultation in detail.

28th August 2020 - SAB Chair responds to TPR funding code consultation

Following on from his letter to the LG minister raising concerns with regard to Clause 123 of the Pensions Schemes Bill the Chair has now written a further letter to TPR in response to their funding code consultation.

27th August 2020 - Employer flexibility regulations published

MHCLG have today laid the regulations on employer contribution and exit payment flexibility which will come into force on 23rd September.

26th August 2020 - Response on employer contribution and exit payment flexibility

MHCLG have today published a partial response to last year's consultation on changes to the local valuation cycle and management of employer risk. The response will be followed shortly by regulations which we expect to come into force in the early autumn. The response includes the review of employer contributions between valuations, spreading exit payments and deferred debt arrangements. The regulations will be accompanied by guidance on the necessary revisions to Funding Strategy Statements and the Board will be inviting practitioner and employer representatives to assist in the development of that guidance.

27th July 2020 - SAB statement on Local Pension Board meeting cancellations

Following concerns raised at a recent Local Pension Board workshop the following statement on the position of local pension boards meeting during the covid-19 emergency has been agreed:- SAB statement on Local Pension Board meeting cancellations (pdf 1 page, 60Kb)

22nd July 2020 - Exit payments cap summary updated

The exit payments cap summary on the public sector exit payments page of this website has now been updated to take into account the HMT response and regulations.

22nd July 2020 - Exit payments cap regulations published

The regulations for capping public sector exit payments have now been published. The regulations are affirmative in nature and therefore will need to be approved by both houses of parliament, they will come into force 21 days after that process is complete. The regulations also contain a schedule of employers covered by the cap. We still await revised HMT directions and guidance on the implementation of the cap and the waiver process.

21st July 2020 - Restricting exit payments in the public sector - 'the £95k cap'

Today the government published its response to the April 2019 consultation on restricting exit payments in the public sector.

20th July 2020 - Statement on equalising male survivor benefits in public service pension schemes

On 20th July the Chief Secretary to the Treasury made a written statement on Public service pensions, survivor benefits for opposite–sex widowers and surviving male civil partners. The statement was in relation to a Teachers Pension Scheme Employment Tribunal case where 'male survivors of female scheme members remain entitled to a lower survivor benefit than a comparable same-sex survivor' and confirmed that 'government believes that this difference in treatment will also need to be remedied in those other public service pension schemes, where the husband or male civil partner of a female scheme member is in similar circumstances.'

17th July 2020 - McCloud Q&A updated

In the light of the publication of the HMT and MHCLG consultations the McCloud page contains a link to the updated Q&A for administering authorities.

17th July 2020 - Pension Schemes Bill - Clause 123

The SAB Chair has written to the Local Government minister expressing support for the principles behind Baroness Bowles amendment to clause 123 of the Pension Schemes Bill which was successfully passed in the Lords. These principles include the recognition of the differing objectives and funding and investment strategies of DB schemes which are open to new members. The LGPS is not subject to those parts of the Pensions Act 2004, which the Bill amends, however the broad powers conferred by the Bill could potentially result in unintended consequences for the scheme, particularly with regard to pressure to change the current funding regime. The secretariat has joined discussions with DWP officials and representatives of private open DB schemes to seek to confirm these principles, preferably on the face of the Bill, should government wish to reverse the Bowles amendment in the commons.

16th July 2020 - MHCLG consultation on McCloud

MHCLG have now published a consultation on changes to the LGPS to meet the requirements of the McCloud case.

A summary of the consultation is available on the McCloud page

16th July 2020 - HMT consultation on McCloud and update on cost cap process

HM Treasury have published a consultation on McCloud and an update on the cost cap process - which will be restarted. Please note a separate consultation has been published for the LGPS on McCloud by MHCLG.

Further information can be found on the McCloud and Cost Management pages of this site.

25th June 2020 - update to COVID-19 page - Corporate Insolvency and Governance Bill receives royal ascent

The Covid-19 information and updates page has been updated with information on the Corporate Insolvency and Governance Act 2020 and its potential impact on employer contributions.

19th June 2020 - Cost Transparency Initiative launches additional tools following strong industry take up

A year after the Cost Transparency Initiative (CTI) published a framework of tools and guidance to help institutional investors better understand their investment costs, the initiative is today launching additional resources and encouraging remaining schemes and asset managers to adopt the standards.

Please see the CTI website for more information: CTI launches additional tools following strong industry take up - Press release

8th June 2020 - Summary of Supreme Court boycotts judgement

The legal opinions and summaries page has been updated with a link to a summary of the judgement of the Supreme Court in the LGPS investment guidance boycotts and disinvestment case.

22nd May 2020 - update to COVID-19 page - Governance survey results

The Covid-19 information and updates page has been updated with a link to a results summary of the Covid-19 governance survey.

21st May 2020 - update to COVID-19 page - NHSC Life Assurance Scheme

The Covid-19 information and updates page has been updated with a link to a summary of the NHSC Life Assurance Scheme.

11th May 2020 - SAB issues statement on Supreme Court boycotts judgement

‘The SAB welcomes the clarity brought by the judgement of the Supreme Court in the case of R (on the application of Palestine Solidarity Campaign Ltd and another) Appellants) v Secretary of State for Housing, Communities and Local Government (Respondent). In seeking to restrict the outcome as well as the considerations taken account of by an LGPS administering authority when developing its responsible investment policy, the government has been judged to have overstepped its powers. It is the Board’s view that Responsible Investment policy decisions belong at the local level reflecting: the need to pay pensions both now and in the future; local democratic accountability and the views of scheme members; and that outcomes of policy developments should not be subject to restrictions based on unrelated matters’

The Board's secretariat and legal advisor have commenced work on a draft summary of the judgement which will be published on this site as soon as it is available.

1st May 2020 - updates to Covid-19 page - Governance survey

The Covid-19 information and updates page has been updated with a link to a survey on the impact of COVID-19 on LGPS governance.

29th April 2020 - Supreme Court Judgement on LGPS boycotts

The Supreme Court today handed down its judgement in the case of R (on the application of Palestine Solidarity Campaign Ltd and another) Appellants) v Secretary of State for Housing, Communities and Local Government (Respondent) which was originally heard on 20th November 2019. The court found in favour of the appellants and would appear to take the position that the Government has the power to direct authorities on the approach they take to investment decisions but not the investments they make.

A Summary of the judgement (PDF 2 pages 180kb) published by the practice at 11KBW is available - please note this summary is the view of 11KBW not necessarily the Board which has yet to consider the implications of the judgement for itself.

21st April 2020 - updates to Covid-19 page - Cash flow survey summary

The Covid-19 information and updates page has been updated with a summary of an LGPS cash flow survey which took place during the first two weeks of April.

17th April 2020 - delay to RPI consultation announced by HMT

Following representations from a number of industry bodies including a letter from the SAB chair (PDF 1 page 85kb) the Chancellor has announced that the consultation on changes to the Retail Price Index will be extended by four months from 22nd April to 21st August

14th April 2020 - updates to Covid-19 page - Extension of accounting deadlines

The Covid-19 information and updates page has been updated with links to the regulations extending local authority accounting deadlines and the accompanying explanatory note

9th April 2020 - PIRC provisional LGPS performance 'not the same magnitude as 2008'

Provisional performance figures for 2019/20 from PIRC Local Authority Universe show estimated average returns across its LGPS members (62 funds with an aggregate value of almost £180bn) of around -5% for the year.

This return is of a very different magnitude to the almost 20% falls seen following the dotcom bubble and the financial crisis. The medium term numbers also all still remain positive with 3 year returns at 1.8% pa, 5 yrs at 5.2% pa and 10yrs at 6.9% pa.

7th April 2020 - updates to Covid-19 page - LGPS resilience survey and additions to FAQs

The Covid-19 information and updates page has been updated with a summary of a survey on the resilience of LGPS administering authorities to deliver critical processes and the administrator FAQS have been added to.

3rd April 2020 - updates to Covid-19 page - TPR guidance and virtual council meetings

The Covid-19 information and updates page has been updated with links to TPRs guidance of 3rd April for public sector schemes and regulations providing for virtual council meetings

2nd April 2020 - updates to Covid-19 page - FAQs and board statement on valuations

The Covid-19 information and updates page has been updated to link to the FAQ's for scheme administrators and to add a statement from the board on the 2019 valuations in the light of the recent movements in equity markets

1st April 2020 - LGPS Cost Transparency compliance and validation system

Byhiras goes live with the Cost Transparency compliance and validation system for the Scheme Advisory Board. Please see press release below for more:

Press release Byhiras Cost Transparency Platform for LGPS live pdf, 2 pages, 462KB

30th March 2020 - McCloud Q&A updated

Following last week's ministerial statement the Q&A has been updated. Please see the link below:

The McCloud case Q&A for administering authorities page (opens in new window)

26th March 2020 – Ministerial Statement on McCloud

On March 25th Lord Agnew made a ministerial statement regarding progress toward remedy in public service pension schemes following the McCloud/Sergeant age discrimination case. Please go to the McCloud Page for more information on the implications for the LGPS.

25th March 2020 - New Coronavirus and LGPS page

A new page has been added under the scheme developments menu to provide information, updates and links about Covid-19 and its impact on the LGPS click here to open the page

25th February 2020 - Board meeting summary 3rd February 2020

The Board has published a summary of the 3rd February meeting, please see the Board updates page

24th February 2020 - Scheme Advisory Board – Practitioner Representative

The Chair of the Board is pleased to announce that following votes from administering authorities in England and Wales, Rachel Brothwood (West Midlands Pension Fund) has been successful in her nomination as practitioner representative on the Board to fill the vacancy left by Nicola Mark. Commenting on Rachel’s appointment Councillor Roger Phillips said “Stepping into Nicola’s shoes was never going to be an easy task but Rachel joins the board with a wealth of knowledge and experience of the scheme and I know that she will continue to represent scheme practitioners to the same high standard enjoyed by the Board in recent years.”

24th February 2020 - Statement from the Scheme Advisory Board on Responsible Investment Guidance

The Scheme Advisory Board wishes to thank all those who responded to the request for comments on Part 1 of the Responsible Investment draft guidance and has issued a statement regarding the next steps which can be found on the Responsible Investment page

For previous years' news go to the New Archive page