The way the Local Government Pension Scheme and Scottish LGPS is governed is changing on 1 April – and UNISON members have a chance to be involved.
Altogether, the funds that make up the LGPS control more than£180bn worth of assets which are used to pay members’ pensions. They need to be governed efficiently and effectively so that pensions can be paid and costs kept to a minimum.
UNISON has long campaigned for members of the LGPS to have a say in how their pension fund is run.
Now the 89 separate pension funds in England and Wales will each have to set up a new board with equal numbers of employer representatives and scheme member reps.
Joint boards will also be established in the SLGPS in Scotland on 1 April.
And that is where UNISON members can come in – the union is keen that member representatives on the new boards should be trained UNISON members.
The boards have to be set up by 1 April, but members do not need to be appointed by them, so there is time for UNISON activists and branches to get involved.
This is an historic opportunity for UNISON members to get involved in the decision making process for your pension fund, which the union.
Branches with an LGPS fund should start talking to their local authority so that UNISON can nominate representatives, and seek members who are able to take up a place as a representive on the new boards.
Find out more:
The Local Government Pension Scheme
Useful resources including an FAQ document and negotiators’ guide on the new LGPs fund boards
