In 2015, the UK government began the process of LGPS pension pooling, whereby individual LGPS funds across England and Wales were gathered into larger pools, in order to reduce costs and target infrastructure investment, among other priorities; priorities were laid out by the Ministry of Housing, Communities and Local Government.[4] Eight different pension pools were created and began to transition assets, developing at very different speeds.[5] The eight pools are:
In the 2022 Levelling UpWhite Paper, the government set out targets for LGPS pension pots to invest at least 5% of their assets in projects that support local areas, potentially unlocking £16bn of LGPS capital for investments in local projects[7]
Local Government Pension Scheme Advisory Board - England and Wales
Referencesedit
^Hinchliffe, Ruby (December 6, 2023). "'Council tax bills to rise' because of £1.6bn public service pensions blunder". Yahoo Finance.
^"About us • Local Pensions Partnership Administration".
^"Council pension changes approved by Unison and Unite". BBC News. 2012-08-24. Retrieved 2023-05-09.
^"Local government pension scheme: Investment reform criteria and guidance".
^"U.K. Pools gaining critical mass, and investment choices". 21 May 2022.
^Zhen, Summer (2023-03-06). "UK pension pool Border to Coast appoints two China-focused managers for new fund". Reuters. Retrieved 2023-05-09.
^Amorim, Venilia (1 March 2022). "'Levelling up' white paper targets LGPS funds to support local areas". Investment & Pensions Europe Magazine. Retrieved 16 March 2022.
This article related to government in the United Kingdom or its constituent countries is a stub. You can help Wikipedia by expanding it.
local, government, pension, scheme, lgps, largest, public, sector, pension, schemes, united, kingdom, with, million, members, from, employers, defined, benefit, pension, plan, administration, carried, through, regional, pension, funds, such, greater, mancheste. The Local Government Pension Scheme LGPS is one of the largest public sector pension schemes in the United Kingdom with 6 4 million members from 15 000 employers 1 It is a defined benefit pension plan Administration is carried out through 89 2 regional pension funds such as Greater Manchester Pension Fund and London Pensions Fund Authority Local Government Pension Scheme LGPS Websitehttps www lgpsmember org In 2014 the LGPS changed from a final salary scheme to a career average scheme 3 In 2015 the UK government began the process of LGPS pension pooling whereby individual LGPS funds across England and Wales were gathered into larger pools in order to reduce costs and target infrastructure investment among other priorities priorities were laid out by the Ministry of Housing Communities and Local Government 4 Eight different pension pools were created and began to transition assets developing at very different speeds 5 The eight pools are ACCESS Border to Coast Pensions Partnership 6 London CIV Brunel Pension Partnership Local Pensions Partnership Investments LGPS Central Northern LGPS Wales Pension PartnershipIn the 2022 Levelling Up White Paper the government set out targets for LGPS pension pots to invest at least 5 of their assets in projects that support local areas potentially unlocking 16bn of LGPS capital for investments in local projects 7 See also editPensions in the United Kingdom Local government Teachers Pension Scheme NHS Pension Scheme UK labour lawExternal links editLocal Government Pension Scheme Advisory Board England and WalesReferences edit Hinchliffe Ruby December 6 2023 Council tax bills to rise because of 1 6bn public service pensions blunder Yahoo Finance About us Local Pensions Partnership Administration Council pension changes approved by Unison and Unite BBC News 2012 08 24 Retrieved 2023 05 09 Local government pension scheme Investment reform criteria and guidance U K Pools gaining critical mass and investment choices 21 May 2022 Zhen Summer 2023 03 06 UK pension pool Border to Coast appoints two China focused managers for new fund Reuters Retrieved 2023 05 09 Amorim Venilia 1 March 2022 Levelling up white paper targets LGPS funds to support local areas Investment amp Pensions Europe Magazine Retrieved 16 March 2022 nbsp This article related to government in the United Kingdom or its constituent countries is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Local Government Pension Scheme amp oldid 1210594529, wikipedia, wiki, book, books, library,
