We are the largest Local Government Pension Scheme Fund in London. We are proud to help key London workers for 122 employers, including not-for-profit, charity, education, leisure, housing and local government organisations, save for their retirement. Our Fund is valued at over £7.6 billion (as at 31 March 2022) and we work to provide financial security in retirement for nearly 100,000 members.
We are part of the Local Pensions Partnership (LPP) 'pool' and Local Pensions Partnership Administration (LPPA) and Local Pensions Partnership Investments (LPPI) respectively, administer and invest our Fund on our behalf. Together with Lancashire County Pension Fund (LCPF), we are also shareholders of the pool.
When the LPFA was established in 1989, we not only took on responsibility for administering the former pension schemes of the GLC and Inner London Education Authority (both disbanded by then), but also for the payment of benefits to former GLC/ILEA employees who had been diagnosed with an asbestos-related disease. We also provide a compensation payment service on behalf of London boroughs and related organisations.
We want to provide a high-quality cost-effective pensions service that meets the needs of both members and employers. We are committed to playing a collaborative role in the UK's pension industry.
We are stewards of the future. We are primarily stewards of our members’ financial future and are committed to ensuring robust pension provision. How our members’ funds are invested also impacts the future of our economy, our environment, our society and therefore our members’ future.
We take this broader responsibility seriously, as a commitment to future and to the shape of today’s world.
We regularly look at the major environmental and social issues facing the world and work to ensure we influence them in a positive way.
Our ongoing major focus is on the climate emergency. We seek to invest member funds to mitigate the financial risk from climate change, influence the broader economy via our engagement opportunities and clearly communicate our approach and our progress.
As part of our governance, we are required by law to prepare and regularly update our Strategic Policy Statement (SPS) which sets out our strategic aims for a rolling three-year period.
We continue to aim to provide a high-quality and affordable LGPS pensions service that meets the needs of our employers and members. We also commit to continuing to play a collaborative role in the wider pensions world.
Our strategy is underpinned by the following three main pillars:
The latest version of our Strategic Policy Statement is available in the Our objectives section in the Library.
We are committed to having an accountable and professional working culture that puts the interests of our members and employers first. We seek to: