where to transfer my pension scheme (from my previous employer) ?

hyubh

SomeUser wrote: »

Public sector schemes are not trust based because they are backed by a government guarantee.

What 'government guarantee' would that be in the LGPS case? The fact there isn't a clear-cut one is why the LGPS is funded in the first place. Also, in practical terms the administering authority performs the same functions of the trusties in a private sector DB scheme.

Whilst in theory they should follow the same rules, in my comparatively limited experience they do not have quite the same governance standards.

E.g...?

SomeUser

hyubh wrote: »

What 'government guarantee' would that be in the LGPS case? The fact there isn't a clear-cut one is why the LGPS is funded in the first place. Also, in practical terms the administering authority performs the same functions of the trusties in a private sector DB scheme.



E.g...?

They are written into statute in a different way - they don't need to have trustees. Agreed, in practice the administering authority performs the same functions as trustees. That doesn't mean that the administering authority has stick to and be mindful of trust law in the same way.

Are you aware of the ill health and maladministration ombudsman determinations?