Engaging with your Local Government Pension Scheme Fund - actions for housing associations

With MHCLG statutory guidance and the Scheme Advisory Board (SAB) Guide to Employer Flexibilities both now issued, your Fund(s) will be consulting on policy, including a consultation with employers. 

The NHF and Isio have drafted a letter which can be sent to your Fund to represent the interests of you as a housing association. We recommend you use this to engage with your Fund on how and when they will consult, and how it will affect you individually. 

The NHF and Isio also held a webinar on 20 May to explore and discuss the range of options for housing associations to fund their pension liabilities, both within Social Housing Pension Scheme, through an alternative trust provider and within the Local Government Pension Scheme.

The conversation ranged from a deep dive to wider trends across the trust-based defined benefit options inside and outside SHPS, the new LGPS flexibilities and fast-paced defined contribution market, exploring the challenges and opportunities for the housing sector. 

LGPS Funds, as well as all unfunded public sector schemes, are now looking at the huge task of implementing the benefit remedy set by the McCloud case. Housing associations should be aware that this will impact on staff in the LGPS in 2022. The NHF will look to provide a checklist for housing associations to manage this with their employees.

Isio is one of the country’s leading independent pensions advisory firms, known and respected for its agility and the team has more than 1,000 client relationships. We're working with our pensions advisers Isio to keep the sector up to date on key areas affecting housing associations.