The value of Local Government Pension Scheme (LGPS) funds in England and Wales rose by 8.8% last year to £437.9bn, according to new Government figures.
The £35.6bn increase in market value was recorded in the year to March 2026, data from the Ministry of Housing, Communities & Local Government shows.
Total income reached £22.9bn – up 5.2% – driven mainly by higher employer contributions of £10.6bn. Employee contributions rose 5.9% to £3.4bn.
Expenditure climbed 4.6% to £20bn, largely due to increased spending on pensions and annuities.
Retirements also rose, with 116,115 people leaving the scheme in 2025-26, an increase of 4.8% on the previous year.
The figures cover all 87 administering authorities and funds, including the Environment Agency.
