What do the Mansion House changes really mean for the LGPS?

Posted on December 18th, 2024

Rachel Reeves’ Mansion House speech on 14 November 2024 will go down as a pivotal moment in LGPS history. In one evening, her strategy set the wheels of change in motion across the pensions landscape. As the dust settled, our CEO Rachel Elwell joined Room 151’s Monthly Online Treasurer’s Briefing to interpret the Mansion House reforms.

Joined by William Bourne (independent advisor), Neil Mason (assistant director and head of pensions, Surrey) and Mark Gayler (Devon County Council), Rachel Elwell discussed how Rachel Reeves’ reforms felt more sensible than creating one ‘mega-fund’ which would have been administratively-intense. She went on to share her position on cross-pool collaboration.

Having worked with Partner Funds over the summer to set out Border to Coast’s 2030 strategy, Rachel said we need to maintain a collaborative spirit in the LGPS. We all have little parts of the answer, and the LGPS ecosystem must work together to deliver the reforms that Government is asking for, whilst still keeping a keen eye on members’ and employers’ needs.

You can read more of Room151’s Monthly Online Treasurer’s Briefing here and find out what Rachel, William, Neil and Mark’s viewpoints were on the implications for the wider LGPS of the Government’s proposed plans.

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