Avon Pension Fund has decided to join a group called Local Pension Partnership Investments (LPPI). This is referred to as a pension pool. A pension pool is a group of pension funds that team up to manage their investments together.
What does this mean for members?
Nothing changes for your pension. Your Local Government Pension Scheme (LGPS) pension remains secure and protected by government.
Why the change?
The pension fund’s investments (worth £6.2 billion) are still currently managed by Brunel Pension Partnership (Brunel).
The government is now creating larger investment pools to exploit the collective benefits of scale. So Brunel partner funds, including Avon Pension Fund, need to move to a different, larger, investment group.
Why LPPI?
After looking at all the options with help from experts at KPMG, Avon Pension Fund chose LPPI because:
- they’re strong at investing and advising
- they offer good value for money
- their approach fits well with government goals
What’s next?
We’ll be working with LPPI, Brunel and others to ensure a smooth transition to the new investment pool.