The Scheme Advisory Board (in conjunction with DLUHC and CIPFA) has published new guidance for preparing LGPS funds’ annual reports. It replaces the 2019 guidance produced by the (now disbanded) CIPFA Pensions Panel.

Funds in England and Wales are now expected to report progress on pooling and levelling up, and how much they invest in private equity and in the UK. In Scotland, the guidance is advisory only, but funds are encouraged to adopt it on a best practice basis (although we note it covers a range of issues that don’t impact Scottish funds).