Download the full outcome
Detail of outcome
The document provides a summary of the responses received to the consultation and sets out the government’s response.
Following this consultation, the government has invited administering authorities to develop proposals for pooling their assets that meet minimum criteria.
A further consultation on revoking and replacing the regulations that govern the scheme’s investments has also been launched.
This consultation represents the next step in reform of the local government pension scheme, building on the responses to the call for evidence, the analysis of the Shadow Scheme Advisory Board and further cost benefit analysis of potential options for reform commissioned from Hymans Robertson using the Contestable Policy Fund.
It sets out the government’s preferred approach to reform, seeks views on the proposals and asks respondents to consider how if adopted, these reforms might be implemented most effectively.
To support the development of proposals for reform, the Minister for Local Government and the Minister for the Cabinet Office also commissioned advice from external experts using the Contestable Policy Fund. The Contestable Policy Fund forms part of the government’s drive for more open policy making and gives ministers direct access to external policy advice through a centrally managed match fund. Following an open tender process, Hymans Robertson were appointed to provide specific advice on the potential for new savings and greater public accountability through increased pension fund collaboration.
Further information on the local government pension acheme can be found in the funds summary data: 2012 to 2013.