The Department for Communities and Local Government is consulting on structural reform of the Local Government Pension Scheme (LGPS). This new consultation comes hot on the heels of changes to the LGPS benefits structure.
The DCLG’s main aim is a reduction in the cost of investing; ie the use of economies of scale to drive down managers’ fees, reduce transaction costs and eliminate or reduce investment consultant and other advisory fees and expenses.
The consultation makes two proposals:
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