Recognising the many difficulties charities who participate in Local Government Pension Schemes face, a series of really helpful guides have been published over the last few weeks:-
- Leading legal firm Charles Russell Speechlys has produced a really helpful LGPS Charity briefing for Charity Finance Group (CFG). The guide outlines the risks and options for charities considering joining LGPS, and the problems faced by those considering exiting. The CFG accompanying blog is here.
- Leading representative body Pension & Long term savings Association (‘PLSA’), formerly the NAPF, have launched the first two guides in a series covering charities in LGPS. These cover:
- An Introduction to the LGPS for Scheduled Bodies – this guide should greatly assist Scheduled bodies, such as Academies, in identifying and mitigating the risks involved in participating in LGPS.
- Navigating Entry in to the LGPS: for local government contractors – this guide should greatly assist charities and not-for-profit organisations in considering their pension options, when tendering for out-sourced public sector contracts.
More guides are on the way from PLSA over the next few months to assist LGPS participants with managing their continued participation in LGPS, and also options for those considering an exit.
It’s great to see these organisations developing this material to assist charities with these issues.