Current issues in the LGPS - June 2025

Our round-up of the latest public sector news and insights.

A response to one long-awaited investment and governance consultation, and a brand-new consultation about benefits and administration, will affect pretty much every function that funds run in England and Wales. Other things occupying the mind are the 2025 valuations and the formation of new committees, following local election results earlier last month. And, if you’re hankering for something a bit different, our resident digital expert urges you to put on your Design Thinking cap!

Preparing to get fit for the future

At long last, we have the Government’s response to the ‘LGPS: Fit for the Future’ consultation launched last November, coming alongside the final report for the Pensions Investment Review. Our Briefing Note summarises the key takeaways from the consultation, covering pooling, local investment and governance, where Government largely confirmed its intention to implement the initial proposals.

Spotlight on local investment:

• Asset classes - this rewarding work can be relatively straightforward with a considered approach. We've examined two routes to consider for local investment: investing in real assets and in private companies. This might be new to most funds, but local investment can create positive investment outcomes and build better futures for local people and communities at the same time.
• Survey - if recent client, peer and broader discussions are anything to go by, we believe there’s value in collating attitudes, plans and perceived challenges among LGPS funds in England and Wales. That’s why we’ve launched The LGPS and local investment: fund survey. The survey closes on 12 June. We’ll share early access to this valuable report with responders so please do get in touch with your Hymans consultant to share your views or take part here. It should only take about 8-10 minutes.

2026 valuations – the countdown begins!  

Who says England & Wales should have all the fun?!  With the 2026 valuations in Scotland now less than a year away, funds are turning their attention to pre-valuation planning to put themselves in the best position for a smooth and successful experience. We've seen funds across England & Wales reaping the benefits of early preparation, and we expect Scottish funds will do more of the same.

Dig out your Design Thinking cap

Curious about how better design drives better outcomes? Following his presentation at the LGPS conference, Chris delves into the world of Design Thinking and breaks down the essentials of a human-centred approach to innovation. It’s a quick, but thought-provoking read that might just change how you approach your next project.

Download the full publication below.

Download

If you have any questions or would like to discuss anything further, please get in touch.