Information on Admitted Bodies
New Admitted Body Status Guidance has been published on CLG’s website.
A copy of the guidance can also be found here Admitted bodies guidance from the CLG. It is important that all stakeholders are aware of the guidance. All employers in the Fund responsible for procurement or outsourcing exercises should make sure they are aware of this guidance.
The guidance has been updated for practitioners to give greater clarity to the Admitted Body Status provisions in the LGPS. One of the key messages in the guidance is that practitioners need to address pensions issues early in any outsourcing process.
There is often initial uncertainty for employees when an outsourcing process is considered and addressing pension issues early minimises some of these uncertainties by providing reassurance that pensions are being properly managed.
Delays resolving pension issues late in the day can lead to complications and added expense to the whole transfer process and should, therefore, be avoided.