Local Government Pension Scheme

The Local Government Pension Scheme is among the largest public pension schemes in the United Kingdom and is administered locally in England and Wales through regional pension funds.
 
The purpose of the recent consultation on LGPS is to change the three-year local valuation cycle to four years, provide flexibility on exit payments and make policy changes to employers required to offer LGPS membership.
 
Regarding section 5 of the consultation, the proposal would remove the requirement for higher education institutions to offer access to the LGPS for new employees. I understand that this was proposed to provide greater flexibility for higher education institutions, considering that they are responsible for ensuring the soundness of their financial positions. It will be up for institutions to take into account the equalities impact when making a decision on offering new employees access to the scheme.
 
I am confident that the Government's response to the consultation will take into account the feedback it receives about the proposed changes. Please be assured that before legislation is brought forward, there will be a fuller analysis of the impact that policy changes may have on equality within institutions through the added flexibility to the LGPS.