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LGPS Lothian PF: “LPF interim response to SAB structure consultation”
15 October 2018
LGPS Lothian PF publishes on her website:
“The Fund issues it’s interim response to the Scottish LGPS Scheme Advisory Board’s Consultation on Structure. In June 2018, the Scottish LGPS Scheme Advisory Board’s Consultation on Structure was launched with four options for the future of the Scottish LGPS. The purpose of the review is to determine whether the long-term interests of scheme members and employers can be served better by changing the current structure.
The consultation document identifies four options for consideration:
- Option 1 – Retain the current structure of 11 Scottish LGPS Funds
- Option 2 – Promote greater co-operation in administration and investing between the 11 Funds
- Option 3 – Pool investments between the 11 Funds
- Option 4 – Merge the 11 Funds into one or more new Funds.
The Pensions Committee, at its meeting on 26 September, agreed its interim response that option 4, merger of funds into one or more new fund, was the preferred option. Councillor Alasdair Rankin, Convener, Pensions Committee, City of Edinburgh Council stated, “We acknowledge that merger is not a panacea and will involve significant change, particularly in relation to governance, which may not be palatable to some stakeholders and merger to a single fund could be difficult. Therefore, LPF’s preferred option would be to work with like-minded partners on a voluntary basis to develop a mutually beneficial merger solution.””
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