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PLSA to launch LGPS research to identify best practices and future challenges

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Julian Mund, the Chief Executive of the Pensions and Lifetime Savings Association (PLSA), has announced important Local Government Pension Scheme (LGPS) industry research by the PLSA at the digital Local Authority Conference (Tuesday, 18 May 2021).

Julian Mund, the Chief Executive of the Pensions and Lifetime Savings Association (PLSA), has announced important Local Government Pension Scheme (LGPS) industry research by the PLSA at the digital Local Authority Conference.

Speaking to the conference, Mund announced that the PLSA will be launching its new research project to look at the state of the nation – both areas of best practice, as well as the future challenges for the LGPS.

The research is going to look at the biggest issues facing the LGPS including getting the guidance funds will need, attracting the talent they want, and reducing the burden of its burgeoning administration from complex regulation.

The research will have four main objectives:

  • To develop a comprehensive understanding of the major issues and challenges facing the operation of the scheme; 
  • To establish a base of understanding to measure against in future years; 
  • To identify best practices or gaps in effective operations; and 
  • To identify where additional clarity is needed from guidance from the regulators and the Government, and how the scheme may evolve in the future.
  • The research will be conducted through a series of roundtables, a survey and case studies, as well as through the production of one of the PLSA’s biggest pieces of thought-leading policy work for 2021.

Julian Mund, Chief Executive, PLSA, says: “If you were working in local authority pensions in 2005, would you have known what the landscape of the LGPS would be today? Of course, the same ever-present issues would have been influencing the direction of travel – resources, administration, governance, regulation.

“But that was well before the wave of change that began in 2014 with the switch to a career average scheme and the origins of pooling. And before the headache created by the McCloud judgement could even be imagined.

“We’ve been speaking to our members about the issues they’re dealing with today. And they’re looking to the future and asking how they can secure the long-term sustainability of your fund and the LGPS. And the PLSA is listening.

“We’re working together with our members to make sure LGPS issues are recognised, and we’re going to act on what we’ve heard. It’s why we’re launching a new research project to look at the state of the nation and the future challenges for the LGPS.”
 

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