Further to Local Government Minister Brandon Lewis’ speech at the NAPF in May, the Department for Communities and Local Government and the Local Government Association have jointly launched a call for evidence into the future structure of the Local Government Pension Scheme.
The call for evidence sets out several objectives that structural reform of the LGPS should aim to achieve including dealing with deficits, improving investment returns and reducing investment fees.
Responding to the announcement, CIPFA Pensions Panel chair Bob Summers said:
“This is a welcome first step in moving the debate on the future of LGPS management onto an evidence-based footing. Through this call for evidence, DCLG and the LGA have provided stakeholders with an opportunity to set out a clear vision of what restructuring should aim to achieve and a framework within which initiatives to improve the cost effectiveness of the LGPS can be properly assessed.
“We welcome in particular the emphasis on obtaining a comprehensive and robust data set to improve the quality of inter-fund comparisons. This is an area where our practitioners can actively contribute and CIPFA looks forward to working with LGPS funds, DCLG, the LGA and the shadow LGPS scheme advisory board to help bring this together.”
Contact: Matthew Patterson
CIPFA Press Office
t 0207 543 5787
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