On 14 July 2025, the Board launched a consultation on proposed changes to the LGPS Code of Transparency. The Code launched in May 2017 and details the obligations on Code signatories to provide consistent data to LGPS funds and pools on investment management fees and costs. The Board subsequently developed the Cost Transparency Initiative (CTI) in 2018, and a centralised data system was also launched in 2020 to collect the associated CTI templates. These arrangements gave a means for the Board to have oversight of compliance with the Code.

The Board is currently exploring the replacement of the centralised data system with a framework approach and is also taking the opportunity to review the Code itself. We believe that under these revised arrangements some changes are needed to the Code in ensure that it continues to deliver on its intended aims. We are therefore holding this consultation which is limited to the LGPS funds and pools as clients and signatories to the Code. The consultation closes on 15 August 2025 at 17:00.