LONDON (12 July 2017) – Aon plc (NYSE:AON), is reminding administering authorities in England and Wales responsible for Local Government Pension Scheme (LGPS) funds that the April 2018 deadline for creating investment pools is coming up fast - and offering advice on the issues it poses.

With the deadline looming, Aon is reissuing the guidance it produced last year in conjunction with the Chartered Institute of Public Finance and Accountancy (CIPFA). The guidance takes administering authorities through investment pooling governance principles and offers advice on the key areas for focus. In support of the full guidance, Aon and CIPFA are also now releasing a short guide focusing on two current key issues for administering authorities.

Dave Lyons, head of Public Sector Investment Consulting at Aon Hewitt, said:
“With investment pooling, administering authorities have to reassess their governance arrangements and ensure that the pooling arrangements’ Joint Oversight Committees are correctly managed too. This is all new, so not straightforward for those concerned.

“As the asset pools have developed over the last 12 months, a couple of key areas - communication and potential conflicts of interest - have risen in prominence for many participating administering authorities. This short guide draws out some of the key points from the full guidance relating to these two important issues.”

Neil Sellstrom, Pensions Network Advisor, CIPFA, said:
"This guidance is designed to support all of those involved in the creation of asset pools and it identifies a range of principles which will inform the process. In particular, CFOs should take note of their responsibilities around these issues."

The guide, ‘Summary of Investment Pooling Governance Principles for the LGPS Administering Authorities’ is available at http://www.aon.com/unitedkingdom/attachments/retirement-investment/Investment-Pooling-Governance-Principles-Practical-Guide.pdf

Media Contact
For further information please contact:
Colin Mayes                                          Marina Jane-Sanchez
Aon Hewitt                                            CNC
01372 733689                                        07535 693214
colin.mayes@aonhewitt.com                   aonhewitt@cnc-communications.com

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