Pension funds get option for new financial status

By Dan Peters | 20 September 2017

Standard documentation is being produced to help councils and local government pension funds wanting to secure a new financial status.

The Financial Conduct Authority had previously wanted to reclassify local and public authorities as retail investors from 3 January 2018 but they will now be able to apply to opt up to professional status, allowing them to continue to lend to each other and invest in financial instruments other than basic bank deposits.

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Finance Local Government Association Pensions CIPFA