How the Avon Pension Fund works

Selection of Local Government workers

The Avon Pension Fund administers the Local Government Pension Scheme (LGPS) for over 380 employers and over 110,000 members in the former Avon area.

Employers include local unitary councils, universities, academies, town and parish councils, housing associations and charities.

The fund is administered by Bath & North East Somerset Council who are legally responsible for the fund. The council delegates its responsibility for administering the fund to the Avon Pension Fund Committee, which is its formal decision making body.

Avon Pension Fund Committee

Meets quarterly, with special meetings and workshops arranged as necessary. Membership of the committee includes representatives of employing bodies and scheme members as well as two independent trustees.

The committee has an Investment Panel to consider matters relating to the management and investment of the assets of the fund. The panel has delegated powers and is responsible for appointing and monitoring investment managers. It usually makes recommendations to the main committee about strategic issues. Both the committee and the Investment Panel are supported by an Investment Consultant and an Independent Investment Advisor, as well as officers.

In the case of investments, all strategic decisions are taken by the committee however the day-to-day functions of investment management and custody are outsourced. Decisions regarding benefits administration are generally taken by officers in the Finance and Investments team and the Pensions Administration team on the committee's behalf.

Avon Pension Fund Committee – for membership, meeting dates, agendas and minutes

Avon Pension Fund Committee – Investment Panel – for membership, meeting dates, agendas and minutes

Avon Pension Fund Pension Board

Bath and North East Somerset Council, as the administering authority, has set up a Local Pension Board (a requirement by government).  The Board has an oversight and scrutiny role to ensure that the LGPS is both well managed and representative at a local level.

Avon Pension Fund Pension Board – for membership, terms of reference, meeting dates, agendas and minutes

Fund administration

The day-to-day operation and administration of the fund is undertaken by the Finance and Investments team and the Pension Administration team.

View our contact us page for information about getting in touch and how to find us.

Brunel Pension Partnership

The Brunel Pension Partnership was set up to pool investment assets across ten funds, including the Avon Pension Fund. The other Funds in the pool comprise Buckinghamshire, Cornwall, Devon, Dorset, Environment Agency, Gloucestershire, Oxfordshire, Somerset and Wiltshire. The collective assets of the pool are around £30 billion. The Partnership looks to achieve savings over the longer term from both lower investment management costs and more effective management of the investment assets.

More information and updates can be found on the Brunel Partnership website at: www.brunelpensionpartnership.org

Employers in the Fund

Below is a list of the employers contributing into the Avon Pension Fund as at 31 March 2018. It also includes the contribution rates that employers are paying.

PDF iconEmployers and contribution rates 2018

Employer discretions

Employers participating in the scheme have separate responsibilities and discretions to exercise when they administer the LGPS. These cover areas such as awarding additional pension, policies on Flexible Retirement and increasing total membership for a member paying into the scheme.

You can request to see a copy of your employer’s policies by contacting you HR department.

Administration Authority discretions

In cases where a former employer has ceased to be a Scheme employer, the administering authority must exercise discretion over the entitlements of past employees of this employer in cases under certain regulations. The Administration Authority Discretions Policy can be viewed below:

PDF iconAvon Pension Fund - LGPS 2014 Discretionary policies and procedures

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