The National Local Government Pension Scheme (LGPS) Frameworks has launched a new framework to procure transition management and implementation services.
The frameworks are a collaboration of LGPS funds including the new pooled arrangements, which must be set up by 1 April.
The expansion of the frameworks will support LGPS funds' transition management needs, including the pooling of assets in line with the government's expectations.
According to National LGPS Frameworks, over the next few years, the migration of the investment management arrangements of LGPS funds to the pools will "necessitate the transition of a significant proportion of LGPS assets" which may involve "significant changes to the current composition of assets."
Norfolk Pension Fund head and National LGPS Frameworks collaboration chairwoman Nicola Mark said: "The process of transition to the pools is set to be a very testing one for all of us and LGPS funds and pools face an array of complex legal, technical and governance issues.
"The establishment of this new transition management and implementation services framework has enabled individual funds and pools to focus on the other critical challenges required for the April 2018 deadline and will continue to deliver savings in both time and money in the years ahead."
The new framework is available for the procurement of transition management and implementation services, transition execution services, and transition management advisory services.
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