The Scottish Local Government Pension Scheme Advisory Board (SLGPSAB) has improving cost transparency and investment fee consistency in its current work plan.
The E&W SAB has formally announced that it will proceed with a cost collection strategy. This is as an important factor in the LGPS being perceived as a value led and innovative scheme. To assist LGPS funds in obtaining the data they require in order to report costs on a transparent basis, the E&W Board has developed a Code of Transparency for LGPS asset managers. The core of the code is a template for completion by asset managers, which lists a series of broad headings for reporting costs and expenses.
The Code will be voluntary with asset managers encouraged to sign up to it to demonstrate their commitment to transparent reporting of costs. The SLGPSAB welcomed this code and asks pension funds in Scotland to promote the code with their own asset managers.