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The Local Government Pension Scheme (Management and Investment of Funds) (Scotland) Regulations 2010
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Investment policy and investment of pension fund money
11.—(1) An administering authority must formulate a policy for the investment of its fund money.
(2) The authority’s investment policy must be formulated with a view—
(a)to the advisability of investing fund money in a wide variety of investments; and
(b)to the suitability of particular investments and types of investments.
(3) The authority must invest, in accordance with its investment policy, any fund money that is not needed immediately to make payments from the fund.
(4) The authority may vary its investments.
(5) The authority must obtain proper advice at reasonable intervals about its investments.
(6) The authority must consider such advice in taking any steps in relation to its investments.
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