The LGPS is undertaking fundamental reform next year. Not only is it changing to a career average from a final salary scheme but the accountability of the LGPS is changing radically and for the first time beneficiaries will make up 50% of the new Pension Boards. Who arguably will jointly run the the LGPS with employers in the future.
The government is also consulting on merging the 89 different LGPS funds in England. Which drew the first question to Colin from someone in the workshop who has a private sector pension background and asked "Why do you have 89 different pension funds for one set of standards?" Which of course was music to Colin's ears.
Colin finished the session by asking the workshop to suggest how the LGPS should be governed in the future. There was a stunned silence to his proposal. I said to Colin that this is because we were use to be told what to think by you not to be asked our opinions!