Today, the Government has released its response to the Fit for the Future consultation. Comment on the response, the Board Chair, Cllr Roger Phillips has released this statement on behalf of the Board:

“The Government’s response to the fit for the future consultation provides welcome clarity on the direction of reform and the commitment to implementing the Good Governance recommendations made by the Board in 2021. However, as the Board highlighted in its earlier letter to the Minister, the scale and pace of the proposed changes carry significant risks if not managed with care. The current timetable places considerable pressure on funds to balance these reforms with other critical responsibilities, including the development and approval of key policies that require thoughtful planning and robust governance.

 This concern was echoed strongly during the recent session between the Local Government Minister and pension committee chairs from across the political spectrum. Many funds are already contending with substantial challenges, such as election-related turnover, local government reorganisation (LGR), staffing constraints, and administrative pressures. These are further compounded by the ongoing 2025 triennial valuation, the implementation of the McCloud remedy, and preparations for the Pensions Dashboard.

In this context, the Board remains committed to supporting funds and the Scheme through this transition. It will continue to engage with government to ensure that funds are given the time necessary to establish the governance structures required, both at fund and pool level, to deliver on these expectations effectively.

The Board Secretariat will also work closely with MHCLG officials to develop the practical guidance needed to support implementation and to clarify the details not yet addressed in the Government’s broader policy statements on this consultation.”