Environment Agency exempted from new local government investment rules

Author: LAPF Investments | Published: December 5, 2025

The Environment Agency has been granted an exemption from new requirements forcing local government pension scheme managers to cooperate with regional authorities on investment opportunities.

In an amendment tabled by Pensions Minister Torsten Bell to the Pensions Bill, the government has excluded the Environment Agency from rules requiring each scheme manager to “cooperate with an appropriate strategic authority” in relation to developing local investment opportunities.

The amendment refines the duty for Local Government Pension Scheme (LGPS) managers to work with strategic authorities whose geographic areas align with their own. However, the Environment Agency – which operates England-wide – has been carved out entirely from this cooperation requirement.

Bell explained that the exemption was necessary because “the Environment Agency’s area is the whole of England and so it is excluded by the amendment because the intended policy approach does not work for it.”

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