Latest news & announcements

Brunel Climate Change Policy: A five-point plan for building a financial system which is fit for a low carbon future

Brunel Pension Partnership Limited (Brunel) is one of eight national pooled funds and manages the investment of the pension assets for the funds of Avon, Buckinghamshire, Cornwall, Devon, Dorset, Environment Agency, Gloucestershire, Oxfordshire, Somerset and Wiltshire. Brunel manages circa £30 billion investments on behalf of these 10 Local Government Pension Scheme funds.

The state of play in the finance sector and our role within it means our focus must be on shaping and influencing the investment system to ensure it is fit for purpose. Our priority is to catalyse change at scale, not only through our own efforts but in partnership with others, and by enabling our Clients to be agents of change in their own right.

The new climate change policy – ‘A five-point plan to build a financial system which is fit for a carbon-zero future’ – builds on insights gained in the course of procuring new asset managers for its 10 LGPS clients.

Brunel Pension Partnership co-file a shareholder resolution at Barclays AGM, putting climate change centre stage for the banking sector

Institutional investors managing over £130bn including Brunel Pension Partnership, one of Avon Pension Fund’s investment managers, have filed a shareholder resolution at Barclays alongside over 100 individual shareholders. It will be voted on by investors at Barclays’ annual general meeting in May 2020.

This landmark resolution – the first climate change resolution filed at a European bank – requests that Barclays publishes a plan to gradually stop the provision of financial services to companies in the energy sector, and to gas and electric utilities that are not aligned with the goals of the Paris climate agreement.

Keeping an eye on your pension - be part of the Avon Pension Fund Board!

We are asking for members of the scheme (whether you’re paying into the scheme, have previously paid in or are receiving a pension) to step forward and nominate themselves for the member representative role on the Board.

What the board does?

The Avon Pension Fund Board provides an oversight and scrutiny role and helps ensure that the Fund complies with governance and administration requirements, including relevant laws, regulations and codes of practice, such as from the Pensions Regulator.

Its role is to support the Fund to help it make improvements to its governance and administration functions. It can also make recommendations on the same matters to the Pensions Regulator and the national Local Government Pension Scheme (LGPS) Advisory Board.

Christmas and New Year office opening times

One-to-one pension drop in sessions

The one-to-one pension drop in sessions at the One stop shop at Keynsham Library, Keynsham will not be running during the festive period. Consequently, the sessions on Tuesday 24 December (Christmas Eve) and Tuesday 31 December (New Year’s Eve) will not occur. The pension drop-in sessions will resume on Tuesday 7 January 2020.

The Avon Pension Fund office opening times over the festive period are as follows:

Avon Pension Fund - Annual Report 2018/19

Annual Report 2018-19The Avon Pension Fund has published its Annual Report 2018/19. It provides information on the management and administration of the Avon Pension Fund during the year.The report includes a review of the year, audited accounts, the Actuarial Statement, investment performance, membership details and any changes to the Local Government Pension Scheme during the 2018/19 financial year.

PDF iconPension Board - Annual Report 2018-19

Annual Responsible Investing Report 2018/19

The Avon Pension Fund has published its Annual Responsible Investing (RI) Report 2018/19. It provides information on all aspects of the Fund’s policies and activities that contribute to its responsible investing objectives. The report sets out the RI and Environmental Social and Governance (ESG) issues that have been taken into account and how these were addressed through strategic decision making.

The Committee will be reviewing the Fund’s current RI policy as part of the investment strategy review later this year.

PDF iconResponsible Investing Annual Report 2018/19

Late retirement factor changes

The Government have announced changes to the late retirement factors for the Local Government Pension Scheme (LGPS). These changes came into effect from 1 September 2019 and will affect members who carry on working beyond their normal pension age (NPA).  Members who retire after their NPA will see either no change to the increase they receive on their pension or a slight increase depending on how long after their NPA they are retiring.

  • Members who retire two years after their NPA will see no change to the increase they receive on their pension.
  • Members who retire over two years after their NPA will see a slight improvement to the increase they receive on their pension.

Buying extra or lost pension (APCs)

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If you want to buy extra pension for your retirement you have the option of paying Additional Pension Contributions (APCs). You can pay for APCs regularly over a period of time or by making a one off lump sum payment.

Any extra regular contributions are taken from your pay and if you pay tax, you receive tax relief automatically through the payroll.

You can pay into an APC to ensure that benefits are not lost during a period of authorised absence.

Your Annual Pension Benefit Statement 2019 is on its way

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

It shows the pension you have built up to 31 March 2019 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 statements will be posted out to you from mid to late August.

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