“Brexit” and the LGPS

The following statement has been issued by DCLG with regard to “Brexit” and the LGPS:

“The Local Government Pension Scheme (LGPS) - Implications of the EU referendum

"The question of how, if at all, the result in favour of 'Brexit' will impact on the LGPS has been raised by scheme members and employers as well as the press and other 'commentators' on all things LGPS.

"The vast majority of EU legislation which impacts either directly or indirectly on the LGPS (e.g. IORP) is already written into UK legislation. Accordingly the scheme will need to continue to comply with such legislation until such time as Britain leaves the EU after which it would of course be the prerogative of a future UK government to seek to repeal some or all of this legislation subject to the terms of any new trade arrangements made with the EU.

"With regard to UK government policy and legislative plans for the LGPS the situation is 'no change'. Regulatory changes, policy objectives and the timescales for implementing them remain as they were before the vote.”

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