In January 2025, the Board received updated legal advice on fiduciary duty in the LGPS from Nigel Giffin KC. At the request of the Board, a summary note which summarises the Secretariat’s understanding of the main content of the opinion is now available. This has not been drafted, or endorsed by Nigel Giffin KC.

Instead, the summary note represents the views of the Secretariat based on their current understanding of the law and policy only. It should not be treated as a complete and authoritative statement of the law, and readers may wish, or will need, to take their own legal advice on the interpretation of any particular piece of legislation quoted. The Secretariat and the Board hopes, however, that this summary note will prove useful for LGPS officers and others wishing to communicate the main findings with a broader audience.

11 April 2025 Board statement following pooling decision letters issued by Government

The Board has been made aware that the Government has written to pools and administering authorities this week with decisions following pools submitting proposals to Government as part of the Pensions Review. Although the Board was not invited to participate in the contents of the decision letters issued by Ministers, Board Chair, Cllr Roger Phillips, met with HMT and MHCLG officials to discuss the decisions taken by Government.  Following this meeting, Cllr Roger Philips has issued this statement:

‘These decisions represent a significant step in understanding the direction of the Government’s Pensions Review but is being delivered during a challenging and exceptionally busy time for the LGPS and Local Government generally, with Local Elections and Local Government Reorganisation on the agenda for many. 

Many questions and issues will be raised in the coming days and weeks on how the decisions taken by Government can be taken forward, and the Board is committed to supporting administering authorities and pools to navigate these discussions and manage the inevitable risks. I also understand the decisions will be particularly challenging and disruptive for Access Pool and Brunel Pension Partnership and their participating administering authorities.   

The Board asks that MHCLG issue the full response to the Fit for the Future consultation as soon as possible to give the much-needed detail to aid discussions.  

The Board wants to reiterate the importance of LGPS members and employers being at the heart of considerations about what is best for funds and their particular circumstances, and what the pools must deliver on their behalf. 

To continue the engagement started last year, I will be soon inviting Pension Committee Chairs to a virtual meeting on 13 May 2025, 5pm to 6.30pm and it is hoped Jim McMahon OBE MP is able to join us. I also hope to organise similar engagement events with Local Pension Board Chairs in the coming months.'