Pension boards for the Local Government Pension Scheme
The Public Service Pensions (PSP) Act 2013 included several provisions relating to better governance and improved accountability of all the various public sector pension schemes. These arrangements apply to the Local Government Pension Scheme (LGPS) from April 2015.
One of the requirements is a Local Pension Board for each LGPS Fund, with responsibility to assist the administering authority or scheme manager.
The board has a duty to:
- secure compliance with; the LGPS regulations;other legislation relating to the governance and administration of the LGPS, and; the requirements imposed by the Pension Regulator in relation to the LGPS and
- ensure the effective and efficient governance and administration of the LGPS
The Pension Board consists of two employer representatives and two scheme member representatives. The Pension Regulator has issued a code of practice on the governance and administration of public service pension schemes.
Local Pension Board documents