The Pensions and Lifetime Savings Association (PLSA) has published an introductory guide to the Local Government Pension Scheme (LGPS), designed to help new councillors understand the workings of the scheme and their roles and responsibilities within it.

The guide, published ahead of the PLSA’s Local Authority Conference, includes an explanation of councillors' roles in ensuring compliance with legislation and effective governance, as well as an overview of the responsibilities of administering authorities, local pension committees, and local pension boards.

It also outlines the LGPS structure and its funding through employer and employee contributions, providing information on how contributions are invested to meet future pension obligations and maintain a balance between assets and liabilities.

In addition to this, the guide includes a ‘heat map’ setting out some of the most pertinent issues that LGPS funds are currently facing, such as implementation of the McCloud judgement, pensions dashboards, and pooling asset guidance,

This heat map also highlighted the complexity associated with the development of consistent, coherent and clear LGPS policy and regulation.

Commenting on the guide, PLSA deputy director of policy, Joe Dabrowski, said; "The LGPS
stands as one of the largest and best-funded pension schemes worldwide. Over the past decade, it has successfully navigated through continuous and rapid changes, alongside economic uncertainty.

“Following the local elections in May, many new councillors will be getting acquainted with the LGPS for the first time. This guide aims to help them in establishing best practice and understand the significant value that the LGPS offers to its members."

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