June 2025

LGPS Current Issues

Introduction

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

The changes that were on the horizon for Funds/pools/advisors are now one step closer following publication of the Government’s response to the “Fit for the Future” consultation in May 2025 and the Pensions Bill starting its journey through the House of Commons this month. On top of this, a consultation on “Fairness and Access” was published and work linked to the 2025 actuarial valuations in England and Wales continues at pace.

In this edition of 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 Wimbledon tennis tournament starting later this month, we also share some facts and figures linked to this beloved British institution.

If you would like to explore further how we can support you with any of the current issues referenced in this edition, then please contact Jonathan or Meg, or your usual Mercer consultant.

Jonathan Perera

jonathan.perera@mercer.com

Megan Fellowes

megan.fellowes@mercer.com

Investment updates

  • Fit for the Future Consultation - Response
  • Pension Scheme Bill
  • Fit for the Future Consultation - Pooling Letters
  • National Framework for Transition Management Services
  • 2025 Actuarial Valuations – Cohort investment strategies
  • Other investment news in brief

Funding matters

  • 2025 actuarial valuations – preliminary discussions underway
  • 2025 Actuarial Valuation – Board Statement
  • Terminations – the Goldilocks test
  • Fairness and Access consultation
  • Financial Education
  • Other funding news in brief

Regulatory round up

  • Fit for the Future consultation and Pension Schemes Bill
  • Fairness and Access consultation
  • Cyber security
  • McCloud remedy
  • Consultation: Local audit reform
  • Other regulatory news in brief

And in other news

  • Pension Dashboards
  • Scheme Annual Report 2024
  • National LGPS Framework for Pension Administration Software
  • Pensions schemes newsletter

Meet the team

  • Theresa, Vicki and Jonathan

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.

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.

© 2025 Mercer Limited. All rights reserved.

Issued in the United Kingdom by Mercer Limited which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales No. 984275. Registered Office: 1 Tower Place West, London, EC3R 5BU.