13 September 2024
5 min
September was a strange month for UK weather – dry Ish in Scotland, but sodden further south. And perhaps that’s an analogy for what happened in the LGPS as the Pensions Investment Review took centre stage. This month’s round-up also looks ahead to the 2025 valuations and adds abbreviations such as WACI and LARRIG to my personal lexicology!
Productive finance is fast becoming a central part of discussions of how we might grow the UK economy. Within this, the heavy focus from the new Government is for more pensions capital to support these growth ambitions. To help you navigate this topic, we're launching a new series of articles that will explore what productive finance can achieve and in which sectors of the economy, who the key stakeholders are and what it means for all of us. In the first publication of the series, we set out our view on what productive finance is and the conditions needed for it to work well.
The Scheme Advisory Board (SAB) for England & Wales has published useful guidance for administering authorities (AAs) around balancing fiduciary duty with demands from lobbyists, as well as highlighting expected behaviours at official meetings. Scheme members and the public have a right to lobby an AA and peacefully protest, but crossing the line into abuse isn’t acceptable. The guidance also notes that the Supreme Court held, in its judgment on the Palestine Solidarity Campaign case, that it is not appropriate for political preferences, whether local or national, to take precedence over what's required under the fiduciary duty.
If you have any questions, or would like to discuss anything further, please get in touch.
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