Local Government Pension Scheme (LGPS)
Councils are implementing the 'Fit for the Future' reforms to the Local Government Pension Scheme, focusing on new governance, asset pooling, and investment strategies.
Councils are implementing the "Fit for the Future" reforms to the Local Government Pension Scheme (LGPS), stemming from the Pension Schemes Act 2026. Harrow Council's Pension Board discussed in August 2026 the mandate to appoint an Independent Person and a Senior LGPS Officer by December 2026, and to produce an investment strategy by March 2027. Newham's Pension Fund is also preparing for these mandatory appointments. Barking and Dagenham's Pensions Committee appointed a new Senior LGPS Officer in September 2026.
Asset pooling is a key reform, with Tower Hamlets Pension Fund preparing in July 2026 to pool assets via the London Collective Investment Vehicle (CIV), with a transition set for April 2026. Barnet Pension Fund approved allocating up to 3% of its assets to local projects in March 2026. Meanwhile, the McCloud Remedy, addressing age discrimination, saw Sutton Pension Fund report delays in July 2026 due to software issues, while Westminster Pension Board was informed its project was on track.
The Pension Schemes Act 2026 became law in April 2026, with regulations taking effect in June 2026, driving many of these changes. Harrow Council must appoint an Independent Person and a Senior LGPS Officer by December 2026 and produce an investment strategy by March 2027. The LGPS is a statutory, funded defined benefit pension scheme for local government employees in the UK.
Key facts
- Harrow Council's Pension Board discussed "Fit for the Future" reforms in August 2026, mandating an Independent Person and Senior LGPS Officer by December 2026. Source
- The Pension Schemes Act became law on April 29, 2026, with regulations taking effect on June 30, 2026. Source
- Tower Hamlets Pension Fund is preparing to pool assets via London CIV, with transition set for April 2026. Source
- Sutton Pension Fund reported delays in July 2026 in issuing Annual Benefit Statements due to McCloud Remedy software issues. Source
- Barnet Pension Fund approved allocating up to 3% of its assets to local projects in March 2026. 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.