BSA feeds into DCLG consultation on Fair Deal in Local Government19 Aug 2016
The BSA has responded to the Department for Communities and Local Government consultation on proposed changes to the Local Government Pension Scheme Regulations. BSA members welcome the proposals to implement policies on Fair Deal which will create consistancy across the public sector pension schemes and promote uniformity in approach by local authorities.
The BSA submission highlights areas where further information and clarity is required to ensure that the regulations can be implemented successfully and smoothly. Greater input is needed on funding agreements, guarantee bond requirements and the basis for pension valuations. The BSA would welcome the publication of additional guidance supporting the proposed new reuglations to cover these areas and to outline the pension information required at tender.
The BSA’s Fair Deal Employers’ Forum works closely with the Government on Fair Deal matters and looks forward to continued constructive engagement as the policy is applied to Local Government Pension Schemes.
The full BSA response can be found here.