Scheme Advisory Board launches Code of Transparency consultation

Published: July 24, 2025

The Local Government Pension Scheme Advisory Board has launched a consultation on proposed changes to the LGPS Code of Transparency.

The Code was launched in 2017 and details the obligations for its signatories to provide consistent data to funds and pools on investment management fees and costs. It subsequently developed the Cost Transparency Initiative (CTI), and a centralised data system for the associated CTI templates.

These gave a means for the Board to have oversight of compliance with the Code.

At present, the Board is exploring the replacement of the centralised data system with a framework approach and is also taking the opportunity to review the Code itself. This comes from a belief that, under these revised arrangements, some changes are needed to the Code itself to ensure it continues to deliver on its intended aims.

As such, it is holding the consultation which is limited to the LGPS funds and pools as clients and signatories to the Code – with this closing on 15 August.

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