Part 1: Public Service Pension Schemes Chapter 4: General Section 100: Guidance to public service pension scheme managers on investment decisions
Section 100(1) to 100(2) amends the power in paragraph 12(a) of Schedule 3 to the PSPA 2013. The provision allows the responsible authority of a public service pension scheme to make regulations allowing for the issuing of guidance or directions to the scheme manager regarding the administration and management of the scheme, to cover investment decisions which it is not proper for the scheme manager to take in light of the UK’s foreign and defence policy. The power applies to the responsible authorities of the LGPS which for the LGPS in England and Wales is the Secretary of State and for the LGPS in Scotland is the Scottish Ministers.