Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Local Government Pension Scheme

Ministry of Housing, Communities and Local Government written question – answered on 21st January 2020.

Alert me about debates like this

Photo of Lord Hutton of Furness Lord Hutton of Furness Labour

To ask Her Majesty's Government what assessment they have made of the cost savings resulting from the use of pooled investment funds in the Local Government Pension Scheme.

Photo of Viscount Younger of Leckie Viscount Younger of Leckie Lord in Waiting (HM Household) (Whip), Parliamentary Under-Secretary (Housing, Communities and Local Government)

In November 2015, the Government published criteria and guidance for the creation of pooled investment funds in the Local Government Pension Scheme (LGPS) in England and Wales, to be operational by April 2018. Eight LGPS asset pools have been established to manage the investments of the scheme.

Estimates provided by the LGPS pools indicate that across the scheme, total savings of around £155 million have been achieved over the period from 2015 up to March 2019. The pools have estimated total savings by 2033 at between £1 billion and £2 billion, with annual savings of up to £200 million.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.