The latest National Local Government Pension Scheme (LGPS) Procurement Framework for Stewardship Services has been launched.

It aims to enable LGPS funds and pools, employers and other public sector pension services to quickly and easily procure value for money qualified specialist services to support their stewardship of the LGPS.

A collaboration of LGPS funds and pools, the National LGPS Frameworks seek to offer efficient, best practice, regulatory compliant access to a range of qualified specialist providers.

The frameworks allow users to leverage better prices while continuing to support local decision making and service requirements.

According to the National LGPS Frameworks, the LGPS is already benefitting from more than £155m in savings due to the initiative.

Services within the framework are available across four specialist ‘lots’: voting services, engagement services, voting and engagement services, and stewardship reporting and projects.

Commenting on the launch, LGPS Scheme Advisory Board chair, Councillor Roger Phillips, said: “In the current climate of international tensions, climate change and other geo-political concerns the effective stewardship of LGPS funds has never been so vital.

“I am therefore pleased to report that the latest National LGPS Framework for procuring Stewardship Services has been launched and would strongly encourage all fund authorities and asset pools to consider the extent to which they can take advantage of the specialist services available to support their stewardship of the LGPS.”

Redington head of LGPS, Jill Davys, added: “The LGPS faces many challenges in navigating investment journeys, not least of which is the ever-growing emphasis on stewardship and responsible investment.

“The National LGPS Frameworks continues to provide high quality support to LGPS funds and pools enable easy access to providers through a robust and transparent procurement process.

“The ability to pinpoint best-in-class stewardship services allows the LGPS to focus on delivering for all stakeholders at a pace that meets their requirements. We are delighted to be appointed to the LGPS Framework for Stewardship Services, it demonstrates our ongoing commitment to the LGPS as well as the excellent work undertaken by the team on a daily basis.”

Other National LGPS Frameworks will be available soon, including the Pensions Administration Operation Support Services Framework, and new Frameworks for Investment Management Consultancy Services and Legal Services.

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