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<p>Under the Investment Regulations 2016, administering authorities in the Local Government
Pension Scheme are no longer constrained by central prescription on how their assets
are invested provided investments are in the best interests of scheme members. They
now have much greater freedom to invest, subject to local democratic control and appropriate
safeguards, and significant investment in new housing has already been made.</p><p>Our
Housing White Paper encourages further investment more widely in housing, including
shared ownership, through creating a stable financial environment in which to invest.</p><p>As
a result, pension schemes are increasingly regarding housing as an appropriate investment.
The pooling of local government pension funds will increase opportunities for their
assets to be used to support infrastructure projects, including housing. This could
generate promising returns for scheme members while maintaining value for money for
national and local taxpayers.</p>
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