Source · Select Committees · Work and Pensions Committee
Recommendation 13
13
Not Addressed
As a large scheme the Local Government Pension Scheme (LGPS) could be well placed to...
Conclusion
As a large scheme the Local Government Pension Scheme (LGPS) could be well placed to demonstrate and develop best practice in pension scheme governance, including on climate change. The Minister for Pensions and Financial Inclusion told us that, in his view, the Local Government Pension Scheme should be run by the Department for Work and Pensions rather than the Ministry for Housing Communities and Local Government. This is an interesting view. We are not Pension stewardship and COP26 33 convinced that DWP setting pension policy for the whole sector while running one of the largest pension schemes would be straightforward or desirable given the inherent conflicts of interest. (Paragraph 48) Investment and stewardship
Government response summary AI-generated
The government's response details its broader Net Zero Strategy and its objectives, completely failing to address the Committee's specific conclusion regarding the Local Government Pension Scheme's governance or potential conflicts of interest.
Government Response
The government responded to this report on 17 December 2021. No passage in that response could be matched to this conclusion. Read the response document ↗