CIPFA has produced this guidance to support Local Government Pension Scheme (LGPS) administering authorities in England and Wales in demonstrating best practice governance during the implementation of and when participating in, LGPS asset pooling arrangements.
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If you are a CIPFA Publications subscriber ... have you downloaded the Briefing Note to accompany this title?
Good governance is a key building block in any successful organisation. Getting it right allows the organisation to concentrate on the things that add value.
The creation of the new investment pools presents both a challenge and an opportunity. It will allow administering authorities to concentrate on effective strategic asset allocation whilst the pools focus on fund manager selection. Good communication will be key as employers and administering authorities will need to feel that they continue to influence – it is after all they who will meet the cost of bad decisions.
Although there may be a number of different structures and operating practices in relation to the investment pooling arrangements, each administering authority should demonstrate strong governance in how they continue to manage their LGPS fund. However, the means by which they do this will need to evolve over time to ensure that it continues to be relevant for those responsibilities provided through the pooling arrangement.
In reviewing their governance arrangements, administering authorities should have regard to existing statutory and professional governance guidance including:
• Delivering Good Governance in Local Government: Framework (2016 Edition), CIPFA/Solace, 2016
The digital, online version is available as both searchable HTML and a bookmarked downloadable PDF of the publication that can be shared throughout your organisation. Customers will need to register and login to CIPFA’s website to access the publication.
Details of licensing arrangements for other categories of purchaser, which includes those organisations operating shared service arrangements, are available from CIPFA’s Publications Department.
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Delivering Good Governance in Local Government: Framework (2016 Edition)
Delivering Good Governance in Local Government: Guidance Notes for English Authorities (2016 Edition)
Delivering Good Governance in Local Government: Guidance Notes for Scottish Authorities (2016 Edition)
Delivering Good Governance in Local Government: Guidance Notes for Welsh Authorities (2016 Edition)
Delivering Good Governance: Guidance Notes for Policing Bodies in England and Wales (2016 Edition)
Principles for Investment Decision Making and Disclosure in the Local Government Pension Scheme in the United Kingdom 2012