The reformed Local Government Pension Scheme

Produced in partnership with Gary Delderfield of Eversheds Sutherland

Practice notes

The reformed Local Government Pension Scheme

Produced in partnership with Gary Delderfield of Eversheds Sutherland

Practice notes

STOP PRESS: On 28 March 2024, the Pensions Regulator (TPR)’s new General Code of Practice came into force, through the Pensions Act 2004 (General Code of Practice) (Appointed Day, Amendment and Revocations) Order 2024, SI 2024/431. The General Code merges and updates ten of TPR’s existing codes of practice into a single code made of ‘51 shorter, topic-based modules’. TPR say this new format will make it easier for governing bodies to find TPR’s expectations and certify whether they meet them.

The ten codes of practice affected are those relating to reporting breaches of the law, early leavers, late payment of contributions, trustee knowledge and understanding, MNTs/MNDs, internal controls, dispute resolution—reasonable periods, DC governance and public sector governance.

Among other things, the General Code of Practice includes a module on trustee remuneration and sets out TPR's expectations on administration and maintaining an effective system of governance (ESOG), as required by the Occupational Pension Schemes (Governance) (Amendment) Regulations 2018, SI 2018/1103 (which implement IORP II). Scheme governing bodies will be expected

Gary Delderfield

Eversheds Sutherland

Gary Delderfield is a partner in Eversheds Sutherland's Human Resources Practice Group. He specialises in pensions and also heads our Public Sector Pensions Group.

He advises trustees, employers and providers on a wide range of contentious and non-contentious pension issues. Gary is also a nationally recognised expert in the area of public sector pensions law advising clients on issues across local government, central government, education, health and voluntary sectors.

His recent experience includes setting up a new final salary pension scheme, advising on a section 75 withdrawal arrangement, advising the trustees of a final salary pension scheme on the winding up of the scheme and advising a private contractor on the pension aspects of a large scale TUPE staff transfers from the public sector.

Gary is a regular speaker on pension issues and speaks on the Local Government Employers' annual 'Fundamentals' trustee training course. He has also written widely on pension issues for publications such as Pensions Week, Pensions Management, Pension Lawyer, Tolleys Pensions Law, Legal Week and PAYadvice (magazine of the Institute of Payroll Professionals).

Jurisdiction(s):

United Kingdom

Key definition:

Local Government Pension Scheme definition

What does Local Government Pension Scheme mean?

One of the largest schemes in the UK, the Local Government pension scheme (lgps) is governed by the Local Government Pension Scheme Regulations 1997 (SI 1997/1612) and is exempt from many of the legal requirements applying to occupational pension schemes (including member-nominated trustees, the statutory funding objective and the Pension Protection Fund) but not the internal dispute resolution requirements.

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