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Download the Broker Bulletin No. 2 - Local Pension Boards & Local Government Pension Schemes (LGPS) PDF
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Broker Bulletin No. 2 - Local Pension Boards & Local Government Pension Schemes (LGPS)
Local Pension Board (LPB)
The LPB’s were established following the introduction of the Public Services Pensions Act 2013. Their presence is to ensure there is effective and efficient governance and administration (which would include undertaking work requested by the Administering Authority), as well as assisting the Administering Authority of the Local Government Pension Scheme (LGPS) to:
- Comply with:
— The LGPS Regulations 2015
— Any other legislation relating to the governance and administration of the Scheme
— Any requirements imposed by the Pensions Regulator
The role of the Local Pension Board should be interpreted as covering all aspects of governance and administration of the LGPS, including funding and investments. However, the Local Pension Board does not replace the Administering Authority or make decisions which are the responsibility of the Administering Authority under both the Regulations and other overriding legislation. The Administering Authority can choose to delegate duties to the Local Pension Board within the parameters of the Regulations.
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