1-20 of 841 results for subject:"Local Government Pension Scheme"
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To ask the Secretary of State for Housing, Communities and Local Government, whether any Local Government Pension Schemes have been blocked from joining a LGFS pool.
To ask the Secretary of State for Housing, Communities and Local Government, whether any Local Government Pension Schemes have been blocked from joining a LGFS pool.
As of 30th June 2026 LGPS administering authorities are required to participate in an asset pool with a view to that pool managing the funds and other assets for which the administrating authority is responsible. Decisions on which pool to join are a matter for local decision.
To ask the Secretary of State for Housing, Communities and Local Government, whether Local Government Pension Scheme funds have requirements to dispose of existing investments when joining a LGFS pool.
To ask the Secretary of State for Housing, Communities and Local Government, whether Local Government Pension Scheme funds have requirements to dispose of existing investments when joining a LGFS pool.
Local Government Pension Scheme (LGPS) pooling regulations do not require administering authorities to sell off existing investments when they join or participate in an asset pool.
LGPS pooling regulations require all LGPS assets to be brought under the control of the relevant asset pool company. The pool becomes responsible for all investment management decisions in line with the investment strategy set by the fund, including whether to buy, hold, sell or reinvest an asset.
To ask the Secretary of State for Housing, Communities and Local Government, what is the (a) mean and (b) median (i) cash and (ii) percentage (1) employer and (2) employment contribution to the Local Government Pension Scheme in England.
To ask the Secretary of State for Housing, Communities and Local Government, what is the (a) mean and (b) median (i) cash and (ii) percentage (1) employer and (2) employment contribution to the Local Government Pension Scheme in England.
As the LGPS is a locally managed scheme, the Department does not publish statistics on employer or employee contribution rates.
The LGPS Scheme Advisory Board published an analysis of the 2025 Fund valuations in July 2026, which stated the mean contribution rate across all employers for the three years 2026-27 to 2028-29 as 16.5% of pensionable pay per annum, and the mean employee contribution rate in 2024-25 as 6.5%.
To ask the Secretary of State for Housing, Communities and Local Government, how much local authorities spent on (a) exit costs and (b) pension-related exit costs, in each of the last three years.
To ask the Secretary of State for Housing, Communities and Local Government, how much local authorities spent on (a) exit costs and (b) pension-related exit costs, in each of the last three years.
As independent employers, local authorities are responsible for decisions on employee exit payments. The Government publishes annual data on local authority exit payments in England, based on returns submitted by local authorities. This data includes pension-related exit costs. Data for the last three years is available on GOV.UK here.
To ask the Secretary of State for Housing, Communities and Local Government, what the percentage value is of the (a) employer and (b) employee contributions to the new Local Government Pension Scheme councillor and mayoral scheme.
To ask the Secretary of State for Housing, Communities and Local Government, what the percentage value is of the (a) employer and (b) employee contributions to the new Local Government Pension Scheme councillor and mayoral scheme.
There are no specific employer and employee contribution rates for mayors and councillors, and rates are set in the same way as all other employees in the LGPS. Employer contribution rates are set locally through the triennial valuation process and can be found in each pension fund’s valuation report. Employee contribution rates are set centrally on a sliding scale from 5.5% to 12.5%, depending on the member’s pensionable pay.
To ask the Secretary of State for Housing, Communities and Local Government, with reference to the Government Actuary’s Department press release entitled Councillors in England access the Local Government Pension Scheme, published on 2 June 2026, what estimate she has made of the annual cost to local authorities of extending...
To ask the Secretary of State for Housing, Communities and Local Government, with reference to the Government Actuary’s Department press release entitled Councillors in England access the Local Government Pension Scheme, published on 2 June 2026, what estimate she has made of the annual cost to local authorities of extending...
As set out in the consultation on access to the LGPS for mayors and councillors, the Government Actuary’s Department has estimated the cost at £40-45 million per year.
A breakdown of this estimate across councillors, mayors, deputy mayors and London Assembly Members has not been made.
To ask the Secretary of State for Housing, Communities and Local Government, what estimate he has made of the annual cost to local authorities in Essex of councillors participating in the Local Government Pension Scheme.
To ask the Secretary of State for Housing, Communities and Local Government, what estimate he has made of the annual cost to local authorities in Essex of councillors participating in the Local Government Pension Scheme.
The Government Actuary’s Department has estimated the England-level cost at £40-45 million per year, but this estimate is not broken down to individual local authorities.
The cost will depend on a range of factors, including the number of councillors, allowances paid, employer contribution levels and how many councillors choose to join the scheme.
To ask the Secretary of State for Housing, Communities and Local Government, how much local authorities spent on pension strain exit payments in 2024-25.
To ask the Secretary of State for Housing, Communities and Local Government, how much local authorities spent on pension strain exit payments in 2024-25.
The Government publishes annual data on local authority exit payments in England, based on returns submitted by local authorities. These data include pension-related exit costs. The published release for 2024-25 is available on gov.uk here.
To ask the Secretary of State for Housing, Communities and Local Government, what assessment he has made of the potential impact of increasing the Normal Minimum Pension Age from 6 April 2028 on members of the Local Government Pension Scheme with fewer than 10 years until retirement.
To ask the Secretary of State for Housing, Communities and Local Government, what assessment he has made of the potential impact of increasing the Normal Minimum Pension Age from 6 April 2028 on members of the Local Government Pension Scheme with fewer than 10 years until retirement.
HMRC has published details of the general equalities impacts of the increase in Normal Minimum Pension Age. The Finance Act 2022 already includes protections for members of registered pension schemes who have an unqualified right to access their pension benefits before age 57.
My Lords, the Government’s position on these matters remains unchanged from the 2016 guidance, which was amended in 2017. Decisions on boycotts and divestment are matters of UK foreign policy and are for central government, not local authorities. It is not appropriate for local authorities to adopt investment policies that differ from UK government sanctions or foreign policy. Funds’ fiduciary duties are unchanged: they remain responsible for setting high-level investment strategies, the key driver of investment returns.
My Lords, the Government’s position on these matters remains unchanged from the 2016 guidance, which was amended in 2017. Decisions on boycotts and divestment are matters of UK foreign policy and are for central government, not local authorities. It is not appropriate for local authorities to adopt investment policies that differ from UK government sanctions or foreign policy. Funds’ fiduciary duties are unchanged: they remain responsible for setting high-level investment strategies, the key driver of investment returns.
To ask His Majesty’s Government what changes there will be in the new local government pension fund guidance in relation to (1) boycott or divestment activity, and (2) interaction with funds’ fiduciary duties.
I thank the Minister for her Answer. In that case, will the Government consider changing the potentially contradictory wording in the draft guidance sent to Local Government Pension Scheme administering authorities for a closed consultation on taking non-financial factors into account in their responsible investment, in case it could be exploited to drive divestment? Will she meet me and other people interested in this matter?
I thank the Minister for her Answer. In that case, will the Government consider changing the potentially contradictory wording in the draft guidance sent to Local Government Pension Scheme administering authorities for a closed consultation on taking non-financial factors into account in their responsible investment, in case it could be exploited to drive divestment? Will she meet me and other people interested in this matter?
On the last point, I listened very carefully to the noble Baroness’s contributions on the pensions Bill. If she came to meet me, I would treat it as a teach-in on pensions, so I have
no problems with having a meeting. The Government are finalising the investment strategy statement guidance in the light of comments received on the draft circulated for comment, as she said, in December 2025. We are carefully considering all feedback received before publishing the final guidance. We absolutely do not want this to be contradictory. We want to make sure that the guidance is crystal-clear because our position remains unchanged: it is not appropriate for local authorities to adopt investment policies that go beyond, or differ from, UK government sanctions or foreign policy positions. We want to make that clear and we will endeavour to do so in the guidance.
On the last point, I listened very carefully to the noble Baroness’s contributions on the pensions Bill. If she came to meet me, I would treat it as a teach-in on pensions, so I have
no problems with having a meeting. The Government are finalising the investment strategy statement guidance in the light of comments received on the draft circulated for comment, as she said, in December 2025. We are carefully considering all feedback received before publishing the final guidance. We absolutely do not want this to be contradictory. We want to make sure that the guidance is crystal-clear because our position remains unchanged: it is not appropriate for local authorities to adopt investment policies that go beyond, or differ from, UK government sanctions or foreign policy positions. We want to make that clear and we will endeavour to do so in the guidance.
On the last point, I listened very carefully to the noble Baroness’s contributions on the pensions Bill. If she came to meet me, I would treat it as a teach-in on pensions, so I have
no problems with having a meeting. The Government are finalising the investment strategy statement guidance in the light of comments received on the draft circulated for comment, as she said, in December 2025. We are carefully considering all feedback received before publishing the final guidance. We absolutely do not want this to be contradictory. We want to make sure that the guidance is crystal-clear because our position remains unchanged: it is not appropriate for local authorities to adopt investment policies that go beyond, or differ from, UK government sanctions or foreign policy positions. We want to make that clear and we will endeavour to do so in the guidance.
I thank the Minister for her Answer. In that case, will the Government consider changing the potentially contradictory wording in the draft guidance sent to Local Government Pension Scheme administering authorities for a closed consultation on taking non-financial factors into account in their responsible investment, in case it could be exploited to drive divestment? Will she meet me and other people interested in this matter?
My Lords, this is about local government pension funds and we are discussing guidance; the Minister has just talked about an instruction. Does she recognise that the autonomy of local government ought to be an important principle that we all hold to and that we need to be very careful about how much we limit it? In this respect, including in foreign policy, we are limiting local government autonomy more than happens in most comparable democracies, including the United States.
My Lords, this is about local government pension funds and we are discussing guidance; the Minister has just talked about an instruction. Does she recognise that the autonomy of local government ought to be an important principle that we all hold to and that we need to be very careful about how much we limit it? In this respect, including in foreign policy, we are limiting local government autonomy more than happens in most comparable democracies, including the United States.
The Fit for the Future reforms do not seek to undermine the fiduciary duty of local pension funds in any way. The responsibility to set investment strategies—the key driver of investment returns—remains with the funds, making sure that they retain local accountability. New LGPS regulations will continue to require administering authorities to include preferences on environmental, social and governance factors in their investment strategies.
The Fit for the Future reforms do not seek to undermine the fiduciary duty of local pension funds in any way. The responsibility to set investment strategies—the key driver of investment returns—remains with the funds, making sure that they retain local accountability. New LGPS regulations will continue to require administering authorities to include preferences on environmental, social and governance factors in their investment strategies.
The Fit for the Future reforms do not seek to undermine the fiduciary duty of local pension funds in any way. The responsibility to set investment strategies—the key driver of investment returns—remains with the funds, making sure that they retain local accountability. New LGPS regulations will continue to require administering authorities to include preferences on environmental, social and governance factors in their investment strategies.
My Lords, this is about local government pension funds and we are discussing guidance; the Minister has just talked about an instruction. Does she recognise that the autonomy of local government ought to be an important principle that we all hold to and that we need to be very careful about how much we limit it? In this respect, including in foreign policy, we are limiting local government autonomy more than happens in most comparable democracies, including the United States.
My Lords, I congratulate the Government on planning to reintroduce the pension scheme for local councillors, which was abolished in 2015 by the noble Lord, Lord Pickles, when he was the Secretary of State for Communities and Local Government in the other place. Thousands of councillors lost their pensions. Does my noble friend the Minister agree with me that the noble Lord should apologise to all those councillors, of all political parties, for the loss of their pensions?
My Lords, I congratulate the Government on planning to reintroduce the pension scheme for local councillors, which was abolished in 2015 by the noble Lord, Lord Pickles, when he was the Secretary of State for Communities and Local Government in the other place. Thousands of councillors lost their pensions. Does my noble friend the Minister agree with me that the noble Lord should apologise to all those councillors, of all political parties, for the loss of their pensions?
We took a different view from the previous policy, and I think that was the right thing to do. Many local councillors will potentially give up many hours of their working life to undertake their duties. It is absolutely right that they should be eligible for the Local Government Pension Scheme.
We took a different view from the previous policy, and I think that was the right thing to do. Many local councillors will potentially give up many hours of their working life to undertake their duties. It is absolutely right that they should be eligible for the Local Government Pension Scheme.
We took a different view from the previous policy, and I think that was the right thing to do. Many local councillors will potentially give up many hours of their working life to undertake their duties. It is absolutely right that they should be eligible for the Local Government Pension Scheme.
My Lords, I congratulate the Government on planning to reintroduce the pension scheme for local councillors, which was abolished in 2015 by the noble Lord, Lord Pickles, when he was the Secretary of State for Communities and Local Government in the other place. Thousands of councillors lost their pensions. Does my noble friend the Minister agree with me that the noble Lord should apologise to all those councillors, of all political parties, for the loss of their pensions?
My Lords, the noble Baroness, Lady Sherlock, made valiant attempts to provide clarity on the issue of fiduciary duty and systemic risk during the passage of the Pension Schemes Bill. She was defeated by the combined opposition, for reasons I still do not understand, but the Government are now saying, I understand, that they are going to take action in the coming months or years. Will the Minister do her best to make sure that it is months rather than years?
My Lords, the noble Baroness, Lady Sherlock, made valiant attempts to provide clarity on the issue of fiduciary duty and systemic risk during the passage of the Pension Schemes Bill. She was defeated by the combined opposition, for reasons I still do not understand, but the Government are now saying, I understand, that they are going to take action in the coming months or years. Will the Minister do her best to make sure that it is months rather than years?
I am always trying to make sure that things happen in months rather than years. It is not as easy as I might have thought it was, but we do endeavour to do that. Regulations on governance, pooling and investment will be laid at the end of this month. They are expected to enter into force at the end of June. These will be made using powers under the Pension Schemes Act 2026, which, as we all know, received Royal Assent on 29 April this year. Guidance on governance, investment strategy statements and pooling will be published in advance of the regulations entering into force.
I am always trying to make sure that things happen in months rather than years. It is not as easy as I might have thought it was, but we do endeavour to do that. Regulations on governance, pooling and investment will be laid at the end of this month. They are expected to enter into force at the end of June. These will be made using powers under the Pension Schemes Act 2026, which, as we all know, received Royal Assent on 29 April this year. Guidance on governance, investment strategy statements and pooling will be published in advance of the regulations entering into force.
I am always trying to make sure that things happen in months rather than years. It is not as easy as I might have thought it was, but we do endeavour to do that. Regulations on governance, pooling and investment will be laid at the end of this month. They are expected to enter into force at the end of June. These will be made using powers under the Pension Schemes Act 2026, which, as we all know, received Royal Assent on 29 April this year. Guidance on governance, investment strategy statements and pooling will be published in advance of the regulations entering into force.
My Lords, the noble Baroness, Lady Sherlock, made valiant attempts to provide clarity on the issue of fiduciary duty and systemic risk during the passage of the Pension Schemes Bill. She was defeated by the combined opposition, for reasons I still do not understand, but the Government are now saying, I understand, that they are going to take action in the coming months or years. Will the Minister do her best to make sure that it is months rather than years?