Archive area Log in
This is an archived page and is no longer maintained and may not be accessible for everyone. Please contact us if you require this content in a different format.

Publications

Details Last Updated: 18 August 2016

Annual Reports

The Scheme Advisory Board (SAB) has published the third Annual Report for the LGPS in England and Wales. It is a report based on information collated from the Annual Reports and audited Financial Statements of the LGPS funds in England and Wales to 31st March 2015. Links to previous years’ Annual Reports can also be found on that page.

Government publishes pooling criteria

Government publishes investment reform criteria and guidance for pooling.

Shadow Scheme Advisory Board issues consultation on draft Local Pension Board guidance

Comments are invited from interested parties on draft guidance on the creation and operation of Local Pension Boards. Guidance has been developed by the Shadow Scheme Advisory Board through the Governance and Standards sub-committee and is designed to assist Administering Authorities with the legal requirement to establish a Local Pension Board from 1 April 2015.

The draft guidance as well as a covering note setting out further detail on this 5 week consultation can be found here. Responses via email are invited by 21 November 2014.

1 May 2014 – DCLG provides the Governments response to the call for evidence into structural reform, opening a new consultation, ‘LGPS: opportunities for collaboration, cost savings and efficiencies’ consultation

The written Ministerial Statement on the consultation is available here: Written Ministerial Statement, Local Government Pension Scheme

DCLG opens ‘LGPS: opportunities for collaboration, cost savings and efficiencies’ consultation. This consultation builds on the call for evidence on the future structure of the LGPS and sets out proposals to deliver savings.DCLG provides the government’s response to the call for evidence into structural reform of the LGPS, May 2014

Shadow Scheme Advisory Board releases analysis and recommendations

The Local Government Pension Scheme (LGPS) Shadow Scheme Advisory Board (SSAB) today 22 January 2014 released its report on the responses to the Government’s Call for Evidence along with a set of recommendations for next steps.

The Board’s report is available here and a press release confirming the publication of the report is available here.

The SSAB’s report views the Call for Evidence as an important step in the evolution of the LGPS in England and Wales; highlighting that structural reform to the Scheme will have far-reaching and long-lasting consequences. As a result, any reform must meet the original objectives of delivering benefits to employers, local taxpayers and scheme members. In particular, any consultation on reform options should consider alternative methods for managing deficits and analyse the costs, benefits and barriers to greater passive management, collective investment vehicles and in-house investment strategies.

With this in mind, the SSAB makes seven recommendations in its response:

1.The Government should consult on options for reform as soon as possible.
2.The Government and the Board should, by the end of Summer 2014, agree a realistic timetable for implementing reform.
3.The Board should complete the work on setting an agreed baseline of data and measurements via the Scheme Annual report process by the end of 2014.
4.The Government should introduce proportionate and appropriate legislation to provide a statutory underpin for both the objectives of reform and the timetable for implementation.
5.In formulating its consultation on high level options for reform the Government should consider (a) alternative methods for managing deficits and (b) analyse the cost / benefits and barriers to greater passive management, collective investment vehicles and in-house strategies.
6.The Board will support the Government by (a) developing a shortlist of feasible options for managing deficits and (b) conducting further research on the costs and benefits of the key options for reform.
7.That Government should ensure that any work being undertaken as part of the Call for Evidence is consistent with other strands of LGPS policy work, for example the LGPS 2014 governance regulations and any reform of the investment regulations.

Joanne Segars, Chair, SSAB, said:

“We acknowledge this is a challenging time for all stakeholders in Local Government. The SSAB is uniquely placed to advise on the direction and smooth implementation of reform. We look forward to working closely with the Minister and playing an active role in developing the outcomes to the Call for Evidence, and any subsequent consultation exercise on structural reform to the LGPS in England and Wales.” A copy of ‘The LGPS Shadow Scheme Advisory Board analysis and recommendations’ is available on http://www.lgpsboard.org/index.php/structure-reform/board-analysis-menu.

22 January 2014

Was this page helpful?