UK Pensions Minister Rules Out Further Forced LGPS Consolidation

UK pensions minister rules out further forced LGPS consolidation

Torsten Bell confirmed there are ‘no plans’ to enforce further consolidation among UK Local Government Pension Schemes

Pensions minister: No more LGPS consolidation - portfolio institutional

Current pensions minister Torsten Bell has ended a tradition lasting years of bland speeches by previous ministers delivering instead an interesting and informative outline of the government’s intentions at the Pensions UK annual conference in Manchester. A key takeaway from Bell was, it seems, deliberately set out to appease the Local Government Pension Scheme (LGPS) when he stated there are no plans for further consolidation of the LGPS poolin…

'We don’t have plans to force further pool consolidation,' pensions minister promises

In March this year, Bell delivered his first speech as pensions minister at Pensions UK (then known as PLSA), arguing that “consolidation was inevitable”.