Decision details

Regulatory Update

Decision Maker: Lancashire Local Pension Board

Decision status: Recommendations Approved

Is Key decision?: No


Update on various pension related regulatory issues


Colin Smith, Technical Adviser Pensions presented a report which updated the Board on the following pension regulatory matters.


1.  Equitable Life Transfer of policies to Utmost Life and Pensions.

2.  The Lancashire County Pension Fund response to the consultation on the local valuation cycle and the management of employer risk.

3.  The Scheme Advisory Board - Good Governance project

4.  The end of the consultation period on limiting exit payments for public sector workers.

5.  Publication of 'The LGPS community' document by the Local Government Association

6.  The Cost cap and McCloud judgement

7.  Walker – v- Innospec Supreme Court Judgment

8.  The Pension Regulator – combination of codes of practice

9.  Fair Deal – consultation on strengthening pension protection.


Resolved: That the updates on regulatory matters as set out in the report presented and given at the meeting are noted.


Report author: Colin Smith

Date of decision: 15/10/2019

Decided at meeting: 15/10/2019 - Lancashire Local Pension Board

Accompanying Documents: