LGPS Guidance published

The Government has published its long-awaited package of statutory guidance for the Local Government Pension Scheme in England and Wales, accompanying the investment and governance reforms in the Pension Schemes Act 2026. The guidance covers three linked areas: asset pooling, preparing and maintaining Investment Strategy Statements, and fund governance.

The guidance is likely to become a central reference point for administering authorities, LGPS pools and advisers as the new regime beds in. It gives further shape to the respective roles of funds and pools, and to the governance standards expected of administering authorities, including how investment strategy is set, how pools are to be held to account, and how the new oversight mechanisms are intended to operate.

The three sets of guidance can be found here, here and here.