Pinsent Masons wins expanded remit on local government pension scheme panel
18 Jan 2019 | 12:09 pm | 1 min. read
International law firm Pinsent Masons has been reappointed to the National Local Government Pension Scheme ("LGPS") Framework for Legal Services, with its remit expanded to provide full service legal advice, including a comprehensive range of investment issues and pension benefit administration across all three jurisdictions in the UK.
The National LGPS Framework for Legal Services was launched in 2015 to help govern the LGPS, which is one of the largest defined benefit pension schemes in the world. In 2017, the scheme covered 14,000 employers, 5.6 million scheme members and assets of £263 billion.
Pinsent Masons has been appointed to the National LGPS Framework for Legal Services since its inception; however its reappointment has expanded its role on the Framework significantly. Whilst other firms have also been appointed with more limited remits, Pinsent Masons is one of only two law firms appointed to the Framework to provide advice on all types of legal issue.
Under the National LGPS Framework for Legal Services, LGPS Funds, LGPS Pools and other public sector bodies including government departments may access legal advice from Pinsent Masons. The Framework allows users to procure a variety of legal services matched to their own specific requirements; from small, one-off pieces of work to longer-term, single supplier arrangements, and the firms on the panel are endorsed as "tested" advisers.
Nick Stones, Partner at Pinsent Masons, comments: “We are proud to have been reappointed to advise the LGPS, with an expanded role in advising on the legal aspects of the investments the scheme makes.”
“Our industry-leading pensions practice continues to grow, and now advises more than 500 clients, from the biggest DB schemes to global corporates, public sector bodies, financial institutions and trustees.”
“Our work in the LGPS environment is extremely important to Pinsent Masons, and for our brief to be expanded is a strong vote of confidence in the firm’s expertise in pensions and investments. It’s a real ‘kitemark’ for our pensions practice."
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