As we continue on our journey toward 1 April 2015 and the commencement of the new governance regime for the Local Government Pension Scheme (LGPS), the Department of Communities and Local Government (DCLG) has issued a consultation on a new Part 3 of the LGPS Regulations 2013 for England and Wales.
The draft regulations now received amend the draft governance regulations consulted upon in the summer and provide opportunity for further comment. They also provide the first look at proposed regulations for managing the costs of the Scheme. The consultation closes on 21 November 2014.
In the first of two briefing notes we take an initial look at what has changed with regard to governance. A second briefing note will look at the proposals for managing the cost of the Scheme and who will meet that cost.