Oxfordshire selects LGPS Central as its preferred pooling destination

It leaves eight funds looking to find a new home by the end of this month – these being Avon, Buckinghamshire, Cornwall, Devon, Dorset, the Environment Agency, Gloucestershire, and Somerset.  

Reflecting on its decision, the Oxfordshire Pension Fund said in a statement: “We have been consistently impressed with the senior leadership team at LGPS Central, which gives us confidence that, working in partnership, we can not only deliver but exceed the government’s vision for the Local Government Pension Scheme.  

“We believe that LGPS Central, operating at scale, can drive even greater value and performance than those already achieved. Our shared mission remains clear: to provide secure pension payments for our scheme members and deliver long-term value for scheme employers.”  

It becomes the second Brunel fund to select its preferred new home after Wiltshire announced its preferred pooling partner, also LGPS Central, back in July. 

The Hampshire, Isle of Wight, Norfolk, and Suffolk pension funds, currently members of the ACCESS pool, have also selected LGPS Central as their preferred new partner.

Richard Law-Deeks, chief executive of LGPS Central, said: “We are delighted that Oxfordshire has confirmed its intent to join LGPS Central following a thorough review. 

“We look forward to supporting a smooth transition that will benefit all partner funds and scheme members.”

Oxfordshire’s decision means LGPS Central’s assets under management could increase by more than £22bn if all six potential new partners are approved.

A version of this article first appeared on Pensions Expert’s sister title LAPF Investments.