Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Housing, Communities and Local Government, what assessment has been made of potential risks to investment returns from the proposed Local Government Pension Scheme reforms.

The Government is currently consulting on proposals to strengthen asset pooling in the Local Government Pension Scheme (LGPS) England and Wales. Asset pooling boosts the resilience and performance of investments by enabling administering authorities to diversify their portfolios across a wider range of asset classes, and to manage their assets more efficiently and at reduced risk. The consultation also makes proposals to ensure consistently high standards of governance across the scheme.

LGPS members’ pension and benefits are guaranteed in statute and are not affected by the performance of investments, or by any other aspect of the Pensions Review.