#2026/544Local Government Pension Scheme Fund Pooling and Investment Regulations 2026
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This law sets the framework for how Local Government Pension Scheme funds in England and Wales are pooled, managed, and invested. It applies to administering authorities that run LGPS pension funds, their asset pool companies, scheme employers, and members whose pension money is held in those funds. From 30 June 2026, affected authorities need to follow the new pooling and management rules, including any relevant guidance or directions from the Secretary of State. The practical impact is stronger central control over how local government pension assets are organised and invested.
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Key Changes
- Creates new rules for pooling, managing, and investing Local Government Pension Scheme funds in England and Wales
- Defines key roles such as administering authorities, asset pool companies, strategic authorities, scheme employers, and scheme members
- Allows relevant guidance and directions from the Secretary of State to shape how pension fund authorities participate in asset pools
Obligations
What this law requires
Administering authorities that maintain Local Government Pension Scheme pension funds in England and Wales must comply with the new pooling, management and investment framework for fund money from the commencement date.
Administering authorities must participate in the relevant asset pool company for their pension fund, including where participation is required by a direction of the Secretary of State.
Administering authorities must follow applicable guidance published by the Secretary of State when identifying the relevant strategic authority for the authority.