Nicholas Brown – 2016 Parliamentary Question to the Department for Communities and Local Government

The below Parliamentary question was asked by Nicholas Brown on 2016-06-24.

To ask the Secretary of State for Communities and Local Government, in what circumstances he plans to exercise his power to issue a directive to a local government pension scheme on the investment of their funds.

Mr Marcus Jones

The draft regulations published for consultation in November proposed that the power of intervention may be exercised in cases where, on the basis of evidence and after consultation with relevant bodies, we believe that an administering authority is failing to act in accordance with any guidance issued under the draft regulations. For example, the power could be used where an administering authority did not follow the guidance and criteria on pooling of assets, also published in November.

No final decision has been taken on the draft regulations. The Govenrment’s response to the consultation will be published shortly.