Nearly a quarter of local government pension scheme (LGPS) employees feel they do not have the right staff in place, a survey conducted by the Pensions and Lifetime Savings Association (PLSA) has revealed.
The poll, which included responses from 92 LGPS representatives, found that most respondents (85%) remain positive about working within the LGPS.
However, it did reveal that there remain concerns about resourcing with 23% not feeling they have the right staff in place.
Three-quarters of the respondents identified good governance as a priority. Responsible investment and stewardship, alongside Pensions Dashboards, were also cited as priorities.
Only 18% of those who took part in the survey feel they should focus on pooling.
Two-thirds believe that the main legislation or regulatory requirements that govern their work are overlapping between different organisations/regulators, and 63% said it causes them confusion.
More than half (54%) now feel that the legislation/regulatory requirements are too complex to execute – up 6% from 48% since 2021.
Two in five feel legislation/regulatory requirements are hindering them from doing their job effectively (43%).
Tiffany Tsang, head of DB, LGPS and Investment at the PLSA, said: ‘As the largest funded defined benefit pension scheme in the UK, the LGPS is in good financial health and employees report having a positive experience of working within it.
‘However, a swathe of regulatory initiatives in recent years mean the LGPS is increasingly being asked to do more with its limited resources, with our surveys showing LGPS funds find it particularly challenging to recruit.
‘The PLSA is committed to engaging with Government and key stakeholders to draw attention to these findings and the challenges being felt within the LGPS.’
For more on this story, visit The MJ (£).
If this article was of interest, then check out our feature, 'Navigating the great LGPS investment reset'.
