Staff recruitment, retention and resourcing are the three greatest challenges facing Local Government Pension Scheme (LGPS) funds, according to new research.
The Pensions and Lifetime Savings Association (PLSA) carried out a survey as part of its new guide, published today.
Some 47% of respondents said recruitment had been a problem while one in three mentioned retention.
Four out of five warned that staff resourcing posed a challenge to administering their fund and to managing its investments.
PLSA’s policy lead for the LGPS, Tiffany Tsang, said: ‘The LGPS has been undergoing a period of significant change in recent years. Pools and other policy developments since 2010 have put increased pressure on recruitment, retention and resourcing needs.
‘While our research identified challenges it is important to note that there are also important successes, such as low turnover rates and high retention over time, indicating that LGPS funds are hiring the right people for the right roles.’
