Member

Even if that was to happen, £25 billion is not large enough for an individual scheme because no scheme would sensibly invest more than 10% in infrastructure. That is only £2.5 billion in each scheme. It is just not enough. It is not going to touch the sides. They need to bulk up into bigger schemes, but the Bill prevents the LGPS in particular, and by extension the other schemes, participating in more than one pool. We know what the Government are trying to achieve, but this is not the way to deliver it.