Section 24B — Co-operation with local government pension scheme managers

(1) [F1 This section applies where a scheme manager is responsible for managing and administering part of a scheme for local government workers in England and Wales in relation to a current employee of—]

(a) [F1 a constituent council of a CCA, or]

(b) [F1 a district council which is not a constituent council where any part of the area of the council falls within the area of a CCA,]

[F1 in connection with that employment.]

(2) [F1 The CCA must cooperate with the scheme manager to identify and develop investment opportunities appropriate to the pension fund that the scheme manager maintains for its part of the scheme.]

(3) [F1 Where the scheme manager participates in an asset pool company, the CCA may fulfil its duty to co-operate with the scheme manager under subsection (2) by co-operating with—]

(a) [F1 the scheme manager,]

(b) [F1 the asset pool company, or]

(c) [F1 both the scheme manager and the asset pool company.]

(4) [F1 A scheme manager participates in an asset pool company by—]

(a) [F1 being a shareholder of the company,]

(b) [F1 being a shareholder in another company which is the only shareholder of the company, or]

(c) [F1 contracting with the company for it to manage the funds and other assets for which the scheme manager is responsible.]

(5) [F1 In this section—“asset pool company” has the meaning given by section 1(9) of the Pension Schemes Act 2026; “local government worker” has the meaning given by section 37 of the Public Service Pensions Act 2013; “scheme” has the meaning given by section 37 of the Public Service Pensions Act 2013; “scheme manager”, in relation to a scheme for local government workers, means a person who is a scheme manager by virtue of section 4(5) of the Public Service Pensions Act 2013 (being a person responsible for the local administration of pensions and other benefits payable under the scheme who maintains a pension fund for the purposes of providing pensions and other benefits under its part of the scheme).]

Amendment notes

1. F1 S. 24B inserted (15.7.2026) by English Devolution and Community Empowerment Act 2026 (c. 23), ss. 43(2), 108(6) (with s. 102); S.I. 2026/812, reg. 2(1)(a)