The Ministry of Housing, Communities and Local Government (MHCLG) has opened a new consultation "LGPS in England and Wales: Access and Fairness".
It is an open consultation, but is particularly relevant to LGPS members, their employers and administering authorities. MHCLG are keen to hear as many views as possible, especially with regards to any hurdles to implementing the changes.
The consultation seeks views on draft regulations to make a number of changes to the LGPS covering various aspects of the benefits payable to LGPS members in England and Wales.
The changes aim to improve fairness and access within the scheme, ensuring that it continues to provide security and support for scheme members.
The proposals cover a number of areas including:
- survivor pensions and death grants
- the gender pension gap in the LGPS
- reporting numbers and reasons for employees opting out of the LGPS
- forfeiture of pensions
The proposals include potential changes to the scheme, which may have a direct impact on employers and their contribution payments to the LGPS relating to areas such as unpaid leave and child-related leave.
If you wish to respond to the consultation, MHCLG has indicated that its preferred method is by the online survey.
The Local Government Pension Scheme in England and Wales: Access and Fairness Consultation | gov.uk is open until 7 August 2025.
Prudential – Additional Voluntary Contributions (AVCs)
Following a recent tender exercise, the Fund is pleased to confirm the Prudential remain the Fund’s AVC provider.
Prudential has reduced their annual management charges for the Fund’s AVC payers. Current AVC payers do not need to do anything, and the Prudential will write to them in July. The Fund has also introduced a new AVC investment choice that only invests in shares of companies that meet Shariah compliance principles.
If employers wish to implement Salary Sacrifice Shared Cost AVCs (SSSCAVCs), the Prudential can work with employers directly on this.
If any employers would like to know more about SSSCAVCs, please email phil.drury@leics.gov.uk or jaishika.patel@leics.gov.uk
