Does the Government envisage the Wales Pension Partnership lending to the Development Bank on normal commercial risk-adjusted terms or on preferential terms?
Answered by Cabinet Minister for Finance | Answered on 04/09/2026
The Local Government Pension Scheme is not devolved. The UK Government statutory guidance is that any investment by Local Government Pension pools, including the Wales Pension Partnership, would be made in accordance with its fiduciary duties and investment objectives, and on a basis that is consistent with delivering appropriate risk-adjusted returns for scheme members.