Pensions Investment Review: call for evidence

After the new Government announced its Pensions Review on 20 July, they quickly launched a short turnaround call for evidence to all interested parties. Read our full LGPS response. In summary, we fully support the government’s ambitions for the UK economy and the recognition that increased investment can catalyse growth. As long-term investors, the LGPS can make appropriate investments to support the UK economy, building on what it has achieved already. However, this must be done without losing sight of the core purpose of the LGPS of paying members’ benefits when they fall due. Investments in the UK should be driven primarily by the quality and suitability of the available investment opportunities. We trust the Government will consider how it can make available such opportunities and increase their attractiveness as investments for the LGPS. As part of this process, we believe the best outcome will be achieved with the Government and LGPS community working together to identify solutions.

Shining a light on productive finance

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. 

Fiduciary duty and lobbyists

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.