The Federation has responded to the Ministry of Housing Communities and Local Government (MHCLG) consultation on the Local Government Pension Scheme.
31 July 2019
The consultation sought views on proposals to amend the Local Government Pension Scheme in England and Wales. We met with MHCLG as part of the process.
In broad terms, we are supportive of the proposed changes. We are pleased with MHCLG’s commitment to implementing appropriate safeguards should the local fund valuations move to a four-yearly cycle, particularly around reviewing covenant on an interim basis, as well as the proposed measures around introducing deferred debts.
We have made a number of suggestions for further consideration as part of this consultation including greater transparency around how funds engage with individual employers and more information on the reasoning behind covenant assessments.