Our initial thoughts
MHCLG McCloud Consultation
17 Jul 2020
On 16th July, the Westminster government released the long-awaited McCloud consultation on applying the remedy to English & Welsh LGPS funds. In this briefing note, we discuss the contents and the potential administrative, funding and accounting impacts of the proposed remedy. We suggest that funds should now:
- Analyse their membership to identify those affected
- Set up a dedicated McCloud project to agree workstreams and plan what resource is needed
- Respond to the consultation (closing date 8 October), bearing in mind the possible involvement of your Committee and/or Local Pension Board.
We will issue our own response ahead of 8 October to allow you to consider this when preparing your own response. In the meantime, if you wish to discuss any aspect further then do get in touch with your usual Hymans Robertson contact or get in touch here.