November 2024

LGPS Current Issues

Introduction

Welcome to the latest edition of our Current Issues digital newsletter.

The political landscape has certainly changed since our last edition with a new leader/Shadow Cabinet for the Conservative party and the impending return of Donald Trump as US President. In addition, it will have been hard to miss the “Fit for the Future” consultation on LGPS reform in England and Wales that was published alongside in the Chancellor’s Mansion House speech on 14 November (following on from the Autumn Budget). For the LGPS, further uncertainty and change lies ahead and 2025 is shaping up to be a very busy year for all stakeholders with deadlines for McCloud and the Pension Dashboard, and, of course, the 2025 actuarial valuations in England and Wales are just around the corner.

In this edition of the Current Issues, we provide updates on some of the above and highlight ways we can provide further support to help meet the challenges that lie ahead.

With the current series of Strictly Come Dancing in full swing and the new series of I’m a Celebrity now underway, we take the opportunity in this edition to share some facts and figures linked to ball room dancing and the Australian rainforests.

Need a PDF copy of this newsletter? Download it here.

Investment updates

  • Government’s Pensions Review
  • Lobbying
  • Fiduciary Duty – Counsel opinion
  • Other investment news in brief

Funding matters

  • “Persnuffle” – to push or to pull (implications of 2024 Budget)
  • Further Education Colleges – Guarantee
  • Climate change guidance principles
  • Other funding news in brief

Regulatory round up

  • LGPS Consultation - Governance proposals
  • McCloud remedy - various
  • Cyber Security – the risks remain real
  • Other regulatory news in brief

And in other news

  • Autumn Budget – Inheritance tax
  • Pension Dashboards updates
  • Lifetime Allowance abolition
  • Expedited decision making
  • 2023/24 LGPS Statistics published
  • Gender Pay Gap / Opt-out survey

Meet the team

  • Meet Laura, Steve and Victoria

Contact us

For more information on how Mercer can help LGPS Funds and their stakeholders, visit our website at www.uk.mercer.com/lgps or contact your usual Mercer consultant.

This edition of LGPS: Current Issues is for information purposes only. See previous editions here.

Download a PDF version of this issue.

Important notes

This content is for information purposes only. It does not constitute advice specific to your Fund and you are responsible for obtaining such advice. Mercer does not accept any liability or responsibility for any action taken as a result of solely reading it.

This contains confidential and proprietary information of Mercer and other intellectual property rights and is intended for the exclusive use of the parties to whom it was provided by Mercer. Its content may not be modified, sold or otherwise provided, in whole or in part, to any other person or entity, without Mercer’s prior written permission.

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