The National Local Government Pension Scheme (LGPS) Frameworks group has launched a new legal services framework with eleven law firms including Osborne Clarke, Pinsent Masons and Eversheds, winning places to provide specialist pensions and investment expertise.
The framework has been signed up to by a third of LGPSs and is split across five lots: full service advice across England and Wales; another for Scotland; investment for UK; and two remaining lots for benefits administration, employer bodies and governance – one for England & Wales and one for Scotland.
The 11 firms comprise Burges Salmon, DLA Piper, Eversheds, Osborne Clarke, Pinsent Masons, Squire Patton Boggs, Trowers & Hamlins and Wragge Lawrence Graham & Co, Burness Paull, Sacker & Partners and Maclay Murray & Spens.
Pinsent Masons was the only firm to be appointed in four of the five lots, followed by Burges Salmon, Burness Paull, Eversheds, Osborne Clarke, Squire Patton Boggs and Wragge Lawrence Graham & Co who were all appointed to three.
The new framework builds on the legal framework let by LGPS Funds in the South West, which expires in 2015. It is a result of collaboration between Buckinghamshire, Dorset, Norfolk and Suffolk County Councils, Lothian Pension Fund, the Environment Agency and the London Boroughs of Croydon and Hackney.
Nicola Mark, chair of National LGPS Frameworks said: ‘Although they are still in their relative infancy, the frameworks are already proving their worth in terms of procurement efficiency and buying power, with estimated savings of £7.9m so far.’
The framework itself is open to the wider public sector’s pensions bodies as well as all LGPS funds. Funds can use it to procure legal services matched to their specific requirements and builds on the existing actuarial and benefit consultancy, investment consultancy and global custody services framework.
The complete list:
Full service (England and Wales)
Burges Salmon, DLA Piper, Eversheds, Osborne Clarke, Pinsent Masons, Squire Patton Boggs, Trowers & Hamlins, and Wragge Lawrence Graham & Co
Full service Scotland
Burness Paull and Pinsent Masons
Investment
Burges Salmon, Eversheds, Maclay Murray & Spens, Osborne Clarke, Pinsent Masons, Sacker & Partners, Squire Patton Boggs, Wragge Lawrence Graham & Co
Benefit administration, employer bodies and governance (England and Wales)
Burges Salmon, Burness Paull, DLA Piper, Eversheds, Osborne Clarke, Sacker & Partners, Squire Patton Boggs, and Wragge Lawrence Graham & Co
Benefit administration, employer bodies and governance (Scotland)
Burness Paull and Pinsent Masons
Jaishree.kalia@legalease.co.uk