PLSA welcomes LGPS developments

The Pensions and Lifetime Savings Association (PLSA), the trade body for pension funds formerly known as the National Association of Pension Funds (NAPF) has welcomed the publication of the criteria for pooling LGPS investments.

PLSA chief executive, Joanne Segars, commented: “We support the development of pooled investment vehicles that generate economies of scale and enable smaller LGPS funds to access new and novel investments.” She added that pooling assets would only help members if governance arrangements are improved at the same time, so the PLSA welcomed the strong governance criteria.

On the consultation on LGPS investment regulations, Segars commented: “The Association welcomes the proposal to move towards a ‘prudent person’ approach to investment in the LGPS. The association has long fought for LGPS investment rules to mirror those of trust-based pension schemes in the private sector, and we are pleased to see the Government has listened.”