Aim’s Pension Data Service for the Local Government Pension Scheme - A solution for rapid understanding, data collection and planning of compliance with the McCloud ruling

 

A ruling by the Court of Appeal in 2018 and a Treasury statement in 2019 confirmed that public pension schemes – local authority scheme 2014 in England & Wales and 2015 scheme in Scotland & Northern Ireland - were age discriminatory in terms of transitional protection (the statutory underpin). This judgment has required Scheme Managers and administrators to assess which members may have been discriminated against, what service data is not held but needed to calculate underpin equivalence and the scale of the benefits due. 

Once this is known, an assessment can be made of the work to be done, pension admin resources required and budget to compensate those who were discriminated against and ensure McCloud compliance. Target remediation has been set by the Local Government Pensions Scheme Advisory Board (LGPSAB) as 31^st March 2021.

 

Time is short. Action is required now!

 

Click here to find out about Aim's pension data service solution for rapid understanding, data discovery, collection and planning of compliance with the McCloud ruling.