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The challenges faced by Local Government Pension Scheme (LGPS) are often unique, usually significant and regularly complex.
You need to deliver a top quality customer service to your members in the face of an ever-increasing number of changes made to the LGPS benefits, and the wider pensions sector. You also need to manage a large and diverse group of employers and engage with all your other stakeholders - from Local Pension Boards to the national Scheme Advisory Board, to Asset Pools and the Government. And you need to do all of this whilst setting and controlling your scheme’s funding, investment and risk strategies.
Succeeding in this landscape requires agility. You need an approach that can be adapted to ensure you effectively manage the risk in, and cost of, your scheme that continues to put your people first.
£107bn
LGPS assets under Mercer advisement
2.2m
LGPS members benefit from Mercer advice
50%
of all LGPS have chosen Mercer to help them meet their challenges
Who we are
Mercer’s dedicated LGPS team provide clients with clear, outcomes driven advice and services. They are supported by a team of over 80 experienced consultants, analysts and specialists, who together provide LGPS funds with dynamic solutions in a range of areas.
We also provide advisory services directly to employers that participate within the LGPS through our separate employer advisory teams.
How we help
The specialist areas where we can provide you with support are:
Our expert actuarial and benefit teams provide the following services to LGPS funds:
Actuarial valuations, including Funding Strategy Statement reviews, and termination valuation assessments
Interim funding reviews and inter-valuation employer contribution assessments
Online employer funding monitoring and asset tracking (using PFaroe)
Full risk advisory services, including financial risk monitoring, bespoke employer investment “bucket” strategies and flightpath “trigger” and hedging frameworks
Pension fund accounting disclosures and advice for funds and their employers
Individual employer contribution assessments on joining and leaving funds, together with reviews
Employer covenant and Deferred Debt Arrangement exit risk assessments
Cash flow projections and budgetary planning
Demographic analysis, data quality improvement plans and liability impact analysis
Liability risk transfer programmes including buy-ins and bulk transfers
FCA authorised and regulated AVC reviews, monitoring and advice (via our LGPS AVC Club)
Individual member calculations and support on benefit design changes e.g. McCloud
Fund and Employer policy development, consultation and communication
We provide comprehensive advisory services, training and tools to LGPS Funds (and Asset Pools) across the full spectrum of investment areas, including:
Technology solutions (e.g. MercerInsight, Strategic Research Community)
Transition management and monitoring
Asset Pooling Support (e.g. Portfolio Mapping Analysis)
Responsible Investment (including carbon footprint analysis, strategic climate change analysis, legislative guidance, support in TCFD reporting, manager ESG ratings and net zero roadmap design)
Backlog projects – our experienced LGPS administrators work with you to ring fence and clear your backlogs, particularly deferred, refund, aggregation and concurrent calculations, but can be extended to other calculations
Data Cleanse projects
Address Tracing and Mortality screening
Administration reviews – we can audit your structure, process and procedures
Areas of support in other specialist disciplines include:
Review of pension fund and employer discretions within the LGPS
FCA authorised and regulated individual member financial advice, on matters such as pension tax planning and retirement planning
Standalone employer covenant assessments and analyses
Communication strategy development and implementation
Dedicated online training resources
We understand the unique, significant and complex challenges you face as a Local Government Pension Scheme and are proud that half of all LGPS funds have chosen us to help them meet theirs.
To find out how we can curate our expertise to support you, please fill in the form below.
Africa
