The Campaign had challenged guidance on the investment strategy for the local government pension scheme saying that it had exceeded the appellant’s statutory powers because the purpose of the guidance was not limited to financial issues, but was concerned with foreign and defence policy matters.
Held: The SS’s appeal succeeded. Subject to Wednesbury unreasonableness, the content was within his discretion having regard to wider public policy issues.
Judges:
Davis, Hickinbottom LJJ, Sir Stephen Richards
Citations:
[2018] EWCA Civ 1284, [2019] 1 WLR 376, [2018] Pens LR 15, [2018] WLR(D) 337
Links:
Statutes:
Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016
Jurisdiction:
England and Wales
Local Government
Updated: 09 June 2022; Ref: scu.617323