LGPS 'Fit for the Future' proposals
Councils are implementing government reforms for Local Government Pension Schemes, focusing on investment pooling and local project allocation.
Lewisham Pension Fund's Pensions Investment Committee approved an Investment Management Agreement with the London Collective Investment Vehicle (LCIV) in March 2026. This formalises the transfer of investment management responsibilities to LCIV from April 2026, as part of the government's 'Fit for the Future' reforms for the Local Government Pension Scheme (LGPS).
Barnet Pension Fund's Committee approved an updated Investment Strategy Statement in March 2026, setting a long-term target to allocate up to 3% of its assets to local projects. This aligns with new LGPS regulations effective from April 2026, defining local investment to include the asset pool's geographical area.
Key facts
- Lewisham Pension Fund approved an Investment Management Agreement with the LCIV in March 2026. Source
- Barnet Pension Fund Committee approved allocating up to 3% of assets to local projects in March 2026. Source
- New LGPS regulations for investment strategy come into effect in April 2026. Source 1 Source 2
- Lewisham's transfer of investment management to the LCIV takes effect from April 2026. Source
- Barnet defines local investment as encompassing the geographical area of the asset pool. Source
About this summary
This summary was written automatically from our published stories and the council meeting records they draw on, with background from Wikipedia. It describes what councils have discussed and decided; it does not take a view on any decision. Each key fact links to the story it comes from. Updated 30 September 2026. Spotted a mistake? Email community@opencouncil.network.