Jon Little, Chair of the Board, and Chris Rule, Chief Executive Officer, Local Pensions Partnership Investments (LPPI):

Local Pensions Partnership Investments (LPPI) is pleased to confirm that on 9 April 2025, the business received a letter confrming that “LPPI already meets the requirements of the government’s consultation, and operates a ‘Whole Scheme Management’ approach, where investment advice, responsible investing and investment implementation activities are all in one place”. 

Since Rachel Reeve’s Mansion House speech, followed by the subsequent Fit for the Future consultation (the Consultation), the past six months have been incredibly busy for the LGPS community. We understand that government letters and feedback to a number of pools and funds has not met their expectations. It’s important that we give these pools and funds time and support to consider their next steps on how they will satisfy the government’s proposed direction whilst also providing comfort on their continued ability to properly discharge their fiduciary duty.

The government’s ambition is to see the LGPS consolidate into a smaller number of professionally run, scaled, well-governed FCA-regulated asset pools. We have been encouraged to remain open to working with new partner funds, which would enable the LGPS to fulfil its potential as a world-class pension investor and act as an engine for growth.

This is a rare moment to invigorate the LGPS and create a best practice, world-class pension scheme. We have the full support of our existing partners to explore how we can all work together to secure the future success of the LGPS.

For more information please contact:

Paul Wynne
Local Pensions Partnership Investments
[email protected]

Please note:

This news release has been prepared to inform the external media of certain information regarding Local Pensions Partnership Investments Ltd (LPPI) only, subject to the following disclaimer.

LPPI is authorised and regulated by the Financial Conduct Authority. This news release does not provide advice on legal, taxation or investment matters and should not be relied upon by any person for any purpose including (but not limited to) investment decisions.

This news release may contain ‘forward-looking statements’ with respect to certain plans and current goals and expectations relating to LPPI’s future financial condition, performance results, strategic initiatives and objectives. By their nature, all forward-looking statements are inherently predictive and speculative and involve known and unknown risk and uncertainty because they relate to future events and circumstances which are beyond LPPI’s control. Any projections or opinions expressed are current as of the date hereof only and subject to this disclaimer.

This news release and its contents is provided ‘as is’ without any representation or warranty (express or implied), and no member of the LPPI nor any of its directors, officers and employees shall be held liable howsoever to any person or entity, as to the appropriateness, accuracy or completeness of the information provided herein.