UK pensions law requires those charged with the governance of occupational pension schemes and pension funds to take professional advice in respect of their fiduciary duties towards beneficiaries.
During 2018/2019 the Scheme Advisory Board was serviced by a secretariat led by Jeff Houston - Head of Pensions, LGA, and received professional advice from the following organisations:
Auditing - While the SAB has not been advised directly by any external auditors, each LGPS fund and the LGPS as a whole has been extensively audited - see Auditors Assurance Statements.
During 2018/19 the LGPS administering authorities have also received from a range of specialist external advisors including the following:
Administration - Capita, Equiniti, LGSS, Liberata, London Pension Fund Authority and Mouchel.
Asset custody* - BNY Mellon, BNP Paribas, HSBC, JP Morgan, Northern Trust and State Street.
Actuarial, and/or Benefits, and/or Investments - Aon Hewitt, Barnett Waddingham, Hymans Robertson and Mercer.
Legal - Addleshaw Goddard, Allen and Overy, Clifford Chance, Eversheds, MacFarlanes, Osborne Clark, Pinsents Masons, Sacker & Partners LLP, Sharpe Pritchard, Squire Patton Boggs, Taylor Wessing, Travers Smith, Trowers and Hamlins, Wragge Lawrence Graham & Co
Other Advisors - Allenbridge, B-Finance, Deloitte, JLT, LAPFF, PSolve, WM Company (previously part of State Street) and others.
*Where stated, including but not limited to. Approximately 98% of fund annual reports named the fund custodian (some funds may use more than one custodian).