London Pensions Fund Authority

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London Pensions Fund Authority (LPFA)
Website https://www.lpfa.org.uk/

The London Pensions Fund Authority (LPFA) is a leading local government pension fund. It was formed in 1989 to fill the gap left by the 1986 dissolution of the Greater London Council (GLC) in administering that body's Pension Fund. It has taken on residual responsibilities for the employees of several other defunct organisations, including the Inner London Education Authority (ILEA) and the London Residuary Body (LRB). [1]

Contents

In 2016 LPFA created the Local Pensions Partnership (LPP) in collaboration with Lancashire County Pension Fund [2] to pool resources and improve management for the benefit of their members and employers. The LPP was set up to be open to other Local Government Pension Scheme and public sector funds in the UK. [3] [4]

As of March 2022, the LPFA itself had around £7.6 billion of assets under management with over 93,000 members in the fund.

Throughout its existence as a well known public sector pension scheme, [5] the LPFA has been a key figure in influencing the Local Government Pension Scheme for local government employees and others across the United Kingdom and is described by Bloomberg, as among "the world's biggest investors" [6] It contributes to debates on issues related to the world economy and has a public commitment to responsible investment, [7] In 2008, it was an active part of a major global coalition of large institutional investors highlighting concerns about the economic impacts of global climate change. [8]

On 2 November 2022, the LPFA published their Investor Climate Action Plan which outlines their commitment to be a net zero pension fund.

See also

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References

  1. ↑ Archives, The National. "The Discovery Service". discovery.nationalarchives.gov.uk. Retrieved 12 October 2017.
  2. ↑ "How We Run Our Money: Lancashire Pension Fund". IPE. Retrieved 12 October 2017.
  3. ↑ "Case Studies: LPP and FRR". IPE. Retrieved 12 October 2017.
  4. ↑ Mooney, Attracta (28 January 2017). "CIO of £12bn pension pot threatens to cull external managers" . Financial Times . Retrieved 12 October 2017.
  5. ↑ "London Pensions Fund Authority produces 12.4% return". IPE RE. Retrieved 12 October 2017.
  6. ↑ Kishan, Saijel (12 June 2006). "London Pensions, Calpers skittish on commodities (update)". Bloomberg.com. Retrieved 27 November 2008.
  7. ↑ "Responsible Investment". www.lpfa.org.uk. Retrieved 12 October 2017.
  8. ↑ Younglai, Rachelle (11 November 2008). "Global investors urge action on climate change". Reuters. Retrieved 27 November 2008.


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