Lancashire County Pension Fund - Regulatory Update
Decision Maker: Lancashire Local Pension Board
Decision status: Recommendations Approved
Is Key decision?: No
Updates to legislative and policy issues
affecting the LGPS
The Board received an update on various regulations which affected the Lancashire County Pension Fund, including the following;
· The HM Treasury consultation on indexation and equalisation of GMP in public service pension schemes.
· The transfer of the Pensions Advisory Service dispute function to The Pensions Ombudsman.
· The Scheme Advisory Board 50/50 section awareness project.
The Board also discussed the quality of information that was circulated to employers and it was agreed that in future more detailed information should be provided, particularly with regard to highlighting changes that would have an impact on employers and any changes to processes that may be required as a result
1. That the provision of more detailed information to employers in relation to highlighting changes that would have an impact on them and any changes to processes that may be required as a result be discussed further with the Local Pensions Partnership Communications Team outside of the meeting.
2. That Ms J Wigg, Engagement Manager at the Local Pensions Partnership, be invited to attend a future meeting of the Board to discuss communications.
Report author: Colin Smith
Date of decision: 24/04/2018
Decided at meeting: 24/04/2018 - Lancashire Local Pension Board