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Item 4 - Potential changes to the LGPS (CIV4/11)

Summary    

This report informs Committee members of potential changes that could affect the LGPS. The changes being 
i.    The Chancellors Budget Update/Conservative Conference Speech; 
ii.    Separation of the Pension Fund form the Host Authority; and
iii.    The impact of Markets in Financial Instruments Directive (MiFID II) and its implementation in the UK.  
To provide additional clarity and facilitate detailed discussion officials from the Financial Conduct Authority, HM Treasury and the Department for Communities and Local Government are expected to attend the meeting for this item.

Recommendations    

The committee is recommended to:

i.    Consider the issues raised in this report; and
ii.    Take the opportunity presented by the attendance of the FCA, HM Treasury and DCLG to discuss the issues with officials.