Simple terms explainer
Councils have a duty to manage the Local Government Pension Scheme properly. This includes handling membership, contributions, and benefits like retirement and survivor pensions. They must also prepare key documents such as funding and administration strategies, carry out regular valuations, and ensure employers meet their payment responsibilities. The law also allows councils to enter into agreements with other organisations to join the pension fund.
Legal status
Statutory
Duty category
Finance
Duty type
Organisational
Social determinant of health
Economic stability
Emerging policy and legislation
1
Bodies with shared interest
Chartered Institute of Public Finance and Accountancy (CIPFA)
Standards and frameworks
2