Scheme Advisors

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.

Fund Advisors

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.

Northern Trust 52.4% Custodian pie chart
State Street 18.3%
BNY Mellon 13.4%
JP Morgan 7.3%
HSBC 6.1%
BNP Paribas 2.4%


Actuarial, and/or Benefits, and/or Investments - Aon Hewitt, Barnett Waddingham, Hymans Robertson and Mercer.

Hymans Robertson 42.5% Actuary pie chart
Barnett Waddingham 28.7%
Mercer 16.1%
Aon Hewitt 12.6%


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).