Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Housing, Communities and Local Government, with reference to the UK’s Modern Industrial Strategy, CP 1337, published on 23 June 2025, what progress she has made on reforming the Local Government Pension Scheme to consider local growth priorities in investment strategies.

The Pension Schemes Bill includes a new power to require Local Government Pension Scheme (LGPS) funds to include their approach to local investment in their investment strategies. The Pensions Schemes Bill and the English Devolution and Community Empowerment Bill also include new reciprocal duties on LGPS funds and strategic authorities to cooperate to identify and develop appropriate local investment opportunities. Wider reforms including consolidation of all LGPS assets in the LGPS asset pools and improved governance will also support LGPS investment in local and regional growth priorities.