Gloucestershire has become the seventh fund to announce LGPS Central as its preferred pooling partner, the fund has confirmed.
It now leaves just seven Local Government Pension Scheme (LGPS) funds looking for new homes ahead of the 30 September deadline – Avon, Buckinghamshire, Cornwall, Devon, Dorset, the Environment Agency and Somerset.
The decision was made during a committee meeting hosted by the fund last week (18 September) and followed a comprehensive review of all the pooling options available to it.
“This pivotal moment for our fund… We are confident that this partnership will deliver long-term value for our members and employers.”
Matthew Trebilcock, Gloucestershire Pension Fund
Matthew Trebilcock, head of the £3.6bn Gloucestershire Pension Fund, said: “This pivotal moment for our fund, LGPS Central offers a strong cultural and strategic fit, and we are confident that this partnership will deliver long-term value for our members and employers.
“We look forward to working closely with our new partners to shape the future of pooled investment within the LGPS.”
Who’s going where?
| Fund | Size | Old pool | New pool |
|---|---|---|---|
| Cambridgeshire | £4.9bn | ACCESS | Border to Coast |
| East Sussex | £5bn | ACCESS | Border to Coast |
| Essex | £11.5bn | ACCESS | Border to Coast |
| Hertfordshire | £6.4bn | ACCESS | Border to Coast |
| Kent | £8.4bn | ACCESS | Border to Coast |
| Northamptonshire | £3.7bn | ACCESS | Border to Coast |
| West Sussex | £5.8bn | ACCESS | Border to Coast |
| Gloucestershire | £3.6bn | Brunel | LGPS Central |
| Hampshire | £10.2bn | ACCESS | LGPS Central |
| Isle of Wight | £811m | ACCESS | LGPS Central |
| Norfolk | £5.5bn | ACCESS | LGPS Central |
| Suffolk | £4.2bn | ACCESS | LGPS Central |
| Oxfordshire | £3.5bn | Brunel | LGPS Central |
| Wiltshire | £3.3bn | Brunel | LGPS Central |
| Avon | £5.8bn | Brunel | Undecided |
| Buckinghamshire | £4.3bn | Brunel | Undecided |
| Cornwall | £2.5bn | Brunel | Undecided |
| Devon | £6.1bn | Brunel | Undecided |
| Dorset | £4.1bn | Brunel | Undecided |
| Environment Agency | £4.9bn | Brunel | Undecided |
| Somerset | £3.2bn | Brunel | Undecided |
Data source: PensionsPerformance.com
A version of this article first appeared on Pensions Expert’s sister title LAPF Investments.
