The Local Government Pension Scheme (LGPS) is in a strong position – with the 87 funds in England and Wales showing a combined funding level of 107% as at 31 March 2022, the 11 Scottish funds showing a total funding level of 147% at their 2023 valuation. Average contribution rates across the LGPS now falling.
But what is the future of LGPS investment against this backdrop?
By 2040 the chancellor has said all local government pension fund assets in England and Wales will be invested in pools of £200bn or more and is aiming to shift all listed assets to pools by next year.
He has also set out an ambition for LGPS funds to invest more in private assets – implementing a 10% allocation ambition for investments in private equity.
LGPS schemes are investing more in so-called levelling up investments – investing more than £27bn in infrastructure assets and increasingly looking to invest in the local economy.
This quarterly PP webinar series will look at the future of LGPS investment – assessing how LGPS funds and pools are investing today and how their investments are evolving.
The first webinar in this series will be held on Thursday 22 February.
Presenters
Jonathan Stapleton
Editor, Professional Pensions
Iain Campbell
Senior investment consultant at Hymans Robertson
Working across a number of consultancies in the past, Iain’s focus has always been on the LGPS. He has even spent some time working within the LGPS, as an officer at the Greater Manchester Pension Fund.
Iain’s experience spans the full spectrum of LGPS needs, including investment strategy, responsible investment, pooling, cashflow and portfolio design
Chris Harper
Partner, Squire Patton Boggs