Local Government Pension Scheme
The question
To ask the Secretary of State for Housing, Communities and Local Government, whether the planned merger of Local Government Pension Scheme funds will require legislation; and on what (a) geography or (b) criteria the new merged funds will be based.
Answered by Jim McMahon
The Government is currently consulting on proposals relating to asset pooling in the Local Government Pensions Scheme (LGPS) England and Wales. The consultation text can be found at the following link: Local Government Pension Scheme (England and Wales): Fit for the future - GOV.UK. The proposals would require LGPS asset pools to meet minimum standards, and all LGPS assets to be managed by LGPS asset pools.
The Government is not proposing to require mergers of LGPS funds. The Government notes that a number of LGPS funds have successfully merged on a voluntary basis and encourages administering authorities to consider whether there would be benefit in merging with another fund.
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