OUR OBJECTIVES

FUNDING STRATEGY STATEMENT

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The Funding Strategy Statement sets out how employers’ pensions liabilities are best met in the years to come. The aim is to keep employer primary contribution rates as nearly constant as possible and take a prudent longer-term view in funding our liabilities.

INVESTMENT STRATEGY STATEMENT

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The Investment Strategy Statement provides an overview of investment objectives and investment beliefs to ensure that over the long term the Fund will have sufficient assets to meet all pension liabilities as they fall due.

MEDIUM-TERM FINANCIAL PLAN

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The Medium-Term Financial Plan (MTFP) provides budget details for the current financial and two following financial years to support the SPS. The MTFP also contains any levy requirement for each financial year and together with the SPS, the MTFP must be also submitted to Mayor of London by 31st December each year for comment.

PENSIONS ADMINISTRATION STRATEGY

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The Pensions Administration Strategy sets out the responsibilities of the LPFA and its employers as participants in the LGPS. The ultimate aim of this strategy is to support employers in providing accurate and timely data to our outsourced pensions administration services provider, LPPA. With timely and accurate data, we can provide a quality service to LPFA members. All employers must sign up to the Pensions Administration Strategy and comply with the Service Level Agreement standards.

STRATEGIC POLICY STATEMENT

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Under the Greater London Authority Act 1999, we are required to prepare a Strategic Policy Statement (SPS) that sets out our strategic plans and objectives for the current financial year and the two following financial years. The SPS and Medium-Term Financial Plan are reviewed on an annual basis by the LPFA Board and a draft must be submitted to the Mayor of London by 31st December each year for comment.

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