Member

The Minister for Pensions was clear in the Commons that the statutory guidance being developed is for the private pension trust-based sector only. This was to address specific calls from within that sector to help give greater clarity on their investment duty to invest in the best interest of their members. At the same time, the Government recognise the importance of ensuring close alignment between that guidance and the guidance in place for FCA-regulated schemes and the LGPS, so that we maintain consistency across the pensions landscape. Both the FCA and the MHCLG, on behalf of the LGPS, are fully supportive of the need for appropriate alignment and are committed to working collaboratively with us as the guidance develops.