All LGPS articles – Page 12
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NewsBarnet Pension Fund back on track following change in administrators
Barnet Council’s pension fund has largely recovered from an era of errors under Capita, with its new administrators overseeing significant improvements in the handling of member data.
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NewsBorder to Coast commits to private credit
On the go: The Border to Coast Pension Partnership, which handles the assets of 11 Local Government Pension Schemes worth a total of around £46bn, has made commitments of more than £575m to six private credit funds.
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NewsLondon Pensions Fund Authority commits £50m to London Fund*
On the go: The £6.7bn London Pensions Fund Authority has committed a further £50m to The London Fund, which aims to stimulate development and enterprise in the capital.
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NewsEnvironment Agency to go net-zero, LGPS pool backs ESG framework
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with the Environment Agency Pension Fund targeting net-zero carbon emissions, and the Border to Coast pool supporting a framework for standards in alternative assets.
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PodcastsPodcast: Treasury admin fund could help tackle McCloud
Podcast: The Treasury should create a fund to help schemes cope with the administrative load of the McCloud remedy. So says Ray Martin, director at HS Sole Trustees, who is joined by Pensions Administration and Standards Association chair Kim Gubler to discuss TPR’s new climate change agenda, the NAO’s warning about the burdensome McCloud judgment, and a bizarre proposal for a national pension fund.
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Brunel Pension Partnership reduces costs by £34bn
On the go: The Brunel Pension Partnership has published its annual report highlighting the cost saving incurred and the increased opportunities for stewardship, diversification and climate analysis for its members.
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Brunel commits to net-zero by 2050
On the go: Brunel Pension Partnership, composed of 10 Local Government Pension Scheme funds with around £30bn in assets under management, has committed to a 50 per cent reduction in its carbon emissions across its portfolio by 2030, with the goal of achieving net-zero by 2050.
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NewsLPPA embarks on data journey and reaps rewards of digital tracing
Case study: A renewed effort to ramp up digital tracing and mortality screening has been a boon to the Local Pensions Partnership Administration, with the exercise having the potential to cut costs, save time and improve actuarial valuations.
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LGPS authorities expected to justify new pension powers
On the go: Local Government Pension Scheme administering authorities will be expected to justify the use of their new powers around reviewing employer contributions, spreading exit payments, and setting up deferred debt arrangements.
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McCloud £17.5bn cost could be an underestimate
On the go: The Office for Budget Responsibility has said its current estimate of the cost of the McCloud remedy could be an understatement, since different remedies for the discrimination case could increase the projected spending.
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NewsImmediate choice a ‘no-brainer’ for judges’ McCloud remedy
The unique position of judges and their non-standard Judicial Pension Scheme means that opting for the “immediate choice” solution to McCloud is a “no-brainer”, experts have said, despite the rest of the public sector taking a different course.
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Judges to face immediate choice in McCloud solution
On the go: Members of the Judicial Pension Scheme will be subject to an immediate choice in 2022 in response to McCloud, in contrast to the rest of the public sector’s deferred choice underpin.
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NewsCan UK councils rent their own streets to fund pensions?
Several US public schemes have embraced unusual means of securing funding, including renting property to themselves. Although these tactics cannot be used across the Atlantic, the post-Covid landscape could see a variety of new strategies being deployed in the UK.
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NewsLGPS funds have £10bn invested in fossil fuels
Data crunch: Despite recent initiatives against climate change, Local Government Pension Scheme funds still have £9.7bn invested in fossil fuel companies, according to new research.
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Schemes should not ‘mindlessly chase’ illiquidity premium
On the go: The chief investment officer of the £19bn Local Pensions Partnership has criticised asset managers promising unrealistic returns from illiquid assets, arguing that they no longer provide the same premium they once did.
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Government reverses course on public sector exit payments
On the go: The government has announced it is to disapply the restriction on public sector exit payments that came into force in November.
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NewsJudicial review could hold up public sector exit payment reform
The High Court is to hear challenges brought by a number of public sector unions to the £95,000 exit payment cap, after permission for a judicial review was granted late last year.
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Access Pool launches seven new sub-funds worth £5.5bn
On the go: The Access Pool, which handles assets for 11 Local Government Pension Scheme funds with around £46bn in assets under management, has launched seven new sub-funds worth £5.5bn.
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NewsGovt opts for deferred choice underpin solution to McCloud
The government has confirmed it will opt for the deferred choice underpin solution to the McCloud problem, which despite being the right choice according to pensions specialists, will open the floodgates of administration woes for public sector schemes.
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Inquiry launched into LGPS role in ‘just transition’ to net-zero
On the go: The All-Party Parliamentary Group for Local Authority Pension Funds has launched an inquiry to look at how these schemes can help in achieving a just transition to a decarbonised economy.