Byhiras, a transparency and accountability platform for investments, has been selected by the Scheme Advisory Board (SAB) for the UK Local Government Pension Scheme (LGPS).
Its platform will be implemented throughout all UK LGPS pension funds and pools by Q1 2020, according to reports in the media. Its technology was selected for the scheme due to its high-level of assurance on security around identity and data of users. This is a five-year deal and will be free for all LGPS members.
Through Byhiras, the funds will gain access to detailed information around costs and performance of different managers.
Byhiras aggregates data from a granular level from source, validates it and enables users to disseminate proprietary information across the investment management supply chain. With its tools to evaluate investments, managers and service providers to differentiate their services and demonstrate value.
LGPS is a defined benefit pension scheme which means the amount a person gets is dependent on how long they have been a member and how much they earn.
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