Government publishes LGPS guidance
Author: LAPF Investments | Published: June 29, 2026
The government has published its guidance for the LGPS on how it expects the sector to implement the changes set out in its Fit for the Future reforms.
It comes just a day before the government expects this guidance to come into force.
Its guidance covers three key areas for the sector to consider. This includes fund governance, including its expectations on the role of the independent person and senior LGPS officer, as well as independent governance reviews.
The government has also published guidance on how it expects funds to prepare and maintain its investment strategy statement – outlining the role of the administering authority and the asset pool, as well as things funds should consider on the strategic asset allocation, responsible investment and local investment fronts.
It also includes a detail which states the Secretary of State has the power to make a “direction requiring that an administering authority either make specific changes to its investment strategy, or review and if necessary, revise its investment strategy”.
This power will be exercised where the Secretary of State is “satisfied that an administering authority has failed to comply with this guidance.”
It does go on to say that, before issuing any direction, the Secretary of State must consult the administering authority concerned.
The final piece of guidance is on asset pooling, which includes guidance on local investment and pool reporting.
LAPF Investments will be publishing a “need to know” guide later today to give you a full summary of all the key things to come out of the guidance.
