The SPP agrees with the government that these proposals will fundamentally improve fairness in and access to the Local Government Pension Scheme (LGPS).
However, the SPP response also highlights the potential for “disruptive administrative impacts” given the numerous other projects being dealt with by the LGPS from dashboards to the McCloud remedy.
Tags: LGPS, local government pension scheme,
Whilst it is right for the Government to challenge the LGPS to assess its progress, the type and pace of changes being proposed run the risk of derailing some of the good work of the last decade, as well as impinging on administering authorities’ fiduciary duties. Within the LGPS it is not clear how these proposals will meet either of the Government’s objectives of improving pension outcomes for members or increasing investment in the UK.
As a result, the Society of Pension Professionals (SPP) urges policymakers to carefully reconsider both the nature and pace of some of these proposals.