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 2020/2021 the Scheme Advisory Board was serviced by a secretariat led by Jeff Houston - Head of Pensions, LGA.
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 2020/21 the LGPS administering authorities have also received from a range of specialist external advisors including the following:
Administration - LPPA, Capita, Ward Hadaway and LGSS.
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 - Eversheds, Osborne Clark, Pinsent Masons, Squire Patton Boggs, Sacker and Partners, Burges Salmon, Bevan Brittan, HB Public Law, Invicta Law and Addleshaw Goddard, LGSS Legal, Browne Jacobson
Other Advisors - PIRC Consultants, MJ Hudson Allenbridge, Mercer, Deloitte, Iseran Bidco Ltd, Mazars, Grant Thornton, Concert Consulting.
*Where stated, including but not limited to. Approximately 94% of fund annual reports named the fund custodian (some funds may use more than one custodian).