Local Government Pension Scheme

Baroness Warsi Excerpts

Tuesday 3rd May 2016 Lords Chamber

[Baroness Williams of Trafford]

I certainly agree with the noble Lord. In terms of pooling pension funds, we now have a huge opportunity in this country to do what other countries do so successfully, particularly Canada—namely, pool resources to invest in infrastructure.

[Baroness Warsi (Con)]

My Lords, will my noble friend explain whether the proposed changes result from cost-saving measures to ensure proper investment or a response to our obligations under a European directive?

[Baroness Williams of Trafford]

My noble friend raises an important point because pooling certainly has the potential to make the management of our pension funds more efficient. However, we also have to look at how we can maximise some of the returns for beneficiaries.