Latest news & announcements

Our new £50 million commitment to local renewable infrastructure

A solar panel in the sunshine

In the latest step towards achieving our net zero goals, we’ve committed £50 million to a new renewables fund. The fund has been created specifically for a consortium of LGPS funds belonging to the Brunel Pension Partnership. The consortium share a desire to address the climate emergency and simultaneously generate positive impact in the region.

The new fund will be managed by Schroders Greencoat, a specialist asset manager dedicated to the renewable energy infrastructure sector. 

The McCloud judgment and your LGPS pension: member factsheet

McCloud update:

On 8 September 2023, the Government laid the McCloud regulations and responded to the latest consultation on how LGPS Funds are to action certain pension processes. Due to the late response, and the fact that we are still waiting further statutory guidance, there may be a delay in processing and calculating certain scheme benefits, which under the new regulations must include the underpin (if you are a qualifying member) from 1st October 2023.

You may qualify for underpin protection if you were an active member of the LGPS on or before 1 April 2012 and still active between 1 April 2014 and 31 March 2022, as long as you did not have a 5 year disqualifying break. If you do qualify for underpin protection, we will work out if an additional sum is due to be paid to you when calculating your pension benefits and this will be paid when you take your pension. You do not need to do anything we will write to you in due course.

Your Annual Pension Statement 2023 is on its way

If you are paying into the local government pension scheme (LGPS) you will receive an Annual Pension Statement from the Avon Pension Fund by the end of August.

It shows the pension you have built up to 31 March 2023 as well as a future projection of your benefits if you remain paying into the scheme to your Normal Pension Age (NPA). This is the age you would retire and take your benefits without any reduction to your pension.

The statement will be posted out to you or you will receive an email notification to download your statement by the end of August.

Avon Pension Fund moves £700m into climate-focused investments

This week the Avon Pension Fund takes another significant step towards achieving its net zero goals.

We've worked with our asset manager to move over £700 million of equity investments into an innovative, Paris-aligned funding solution.

The Paris Agreement on limiting global warming forms the basis for the Fund’s climate change investment objectives.

In total, the Fund now holds over £1 billion in dedicated Paris-aligned index equity strategies and has moved away altogether from using standard market-cap indices.

We’re signatories of the FRC Stewardship Code

Retaining our signatory status to the UK Stewardship Code reaffirms our continued focus on active stewardship and responsible investments.

As well as caring about our members’ financial futures, we believe that we have a responsibility to consider the impact that the companies that we invest in have on the world around us.

So we’re pleased to have successfully retained our status as a signatory of the UK Stewardship Code, published by the Financial Reporting Council (FRC).


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