Most regulators participate in the unfunded public service pension schemes, which do not invest monies in order to generate returns. Those that do have funded schemes are subject to DWP occupational pension scheme legislation, with investments separated from the organisation and trustees responsible for scheme investments, or, in the case of the Environment Agency, participate in the Local Government Pension Scheme (LGPS). Trustees and LGPS administering authorities have specific legal and fiduciary duties.<\/p>
LGPS administering authorities, including the Environment Agency Pension Fund, are required to act in the interest of the fund and not the employer in setting and implementing their investment strategy. DLUHC guidance sets out that it is good practice for administering authorities to have robust policies to manage any potential conflicts of interest. The EAPF conflicts of interest policy is available online.[1]<\/sup><\/sup><\/p> <\/p>