News
Key Messages from SAB on the DLUHC Consultation on Investment Issues
The Board welcomes this consultation, which gives much needed clarity on the Government’s future intent on investment policy. We will engage fully and positively with the Department, funds and pools…Publication of the 2022 Scheme Valuation Report
The Scheme Advisory Board has today published a detailed report that pulls together data from all of the 2022 local fund valuation reports. This 2022 Scheme Valuation Report aims to provide a…Compliance and Reporting Committee’s Annual Report working group – Review of 2019 CIPFA ‘Preparing the Annual Report’ guidance
The Annual Report working group (established as part of the Compliance and Reporting Committee) has been reviewing the 2019 CIPFA ‘Preparing the Annual Report’ guidance and has identified several areas…Update on LGPS Gender Pensions Gap Report
The earlier Gender Pensions Gap report for LGPS identified a substantial difference between the average level of LGPS pension benefits accrued by male and female scheme members. The difference between…Consultation on Next Steps for Investments in the LGPS in England & Wales
DLUHC has issued a consultation on a number of investment-related proposals for the LGPS. These include imposing a deadline of 31st March 2025 for the transition of listed assets from…Second reading of the Economic Activity of Public Bodies (Overseas Matters) in the House of Commons
The Economic Activity of Public Bodies (Overseas Matters) Bill, also known as the Boycotts, Divestments and Sanctions Bill had its second reading in the House of Commons on 3rd July…Publication of the tenth Scheme Annual Report
The Scheme Advisory Board has today published the tenth Scheme Annual Report. The aim of this Annual Report is to provide a single source of information about the status of…Government publishes the Economic Activity of Public Bodies (Overseas Matters) Bill
The Government this week published a Bill to ban LGPS administering authorities from making investment decisions influenced by political and moral disapproval of foreign state conduct, except where this is…Letter from the Minister on governance and reporting of climate change risks in the LGPS
DLUHC have confirmed that implementation of climate reporting obligations would be delayed at least until next year. Presuming regulations are forthcoming in time for 1st April 2024, reports covering the…Audit issue 2021/22 – Pensions triennial valuations
Councils may be aware that the delay in finalising accounts for 2021/22 has meant that information from the March 2022 triennial valuations of pension funds has become available before the…‘McCloud’ remedy in the LGPS – supplementary issues and scheme regulations consultation
DLUHC has today launched a consultation that seeks views on changes to the Local Government Pension Scheme in England and Wales (LGPS). This follows a previous consultation that DLUHC undertook…Update to Employer Flexibilities Guidance Documents
The Board has decided to withdraw the Example Deferred Debt Agreement (Schedule A) that was available on our website in the Employer Flexibilities Guidance section. It has come to our…Cost Transparency Roadshows
The Scheme Advisory Board has set up a series of free regional training sessions for Local Pension Board, Committee members and fund officers on investment cost transparency.Sessions are being arranged…Treasury statement on SCAPE rate reduction and response to 2021 SCAPE consultation
Through a written ministerial statement from the Chief Secretary to the Treasury, the Government has announced that the Superannuation Contributions Adjusted for Past Experience (SCAPE) discount rate has been reduced…Sharia Compliance Report – Invitation to tender
The Board has received legal advice which suggests that it should instruct an expert in Islamic finance to provide evidence on a range of issues around Sharia Compliance in the…Government responds to McCloud consultation
The Department for Levelling Up, Communities and Housing (DLUHC) has published their response to the consultation on amendments to the underpin. The consultation proposed changes to the underpin to address…Climate risk reporting in the private sector – Review of first year reports
TPR have published a review of climate-related disclosures by occupational pension schemes. The paper sets out TPR’s preliminary observations and feedback to industry, based on their review of a selection…SAB statement on Freedom of Information Act requests on climate advice and data
Some funds have raised with the Board the increasing prevalence of requests for information about the responsible investment policies of administering authorities. These may come from interested scheme members or…
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