Jamie Hailstone 11 April 2016

Council pension funds get go-ahead to pool assets

Two local government pension schemes are due to join forces after they got approval to pool their assets by the Financial Conduct Authority (FCA).

The Lancashire County Pension Fund and the London Pensions Fund Authority will now be known as the Local Pensions Partnership (LPP).

It follows calls by chancellor George Osborne for all 89 funds in the local government pension scheme (LGPS) to join together to form six combined wealth funds.

Chairman of the partnership, Michael O’Higgins, said: ‘We are delighted we can now move forward as an accredited entity and take the lead in creating the first pool within an asset and liability management partnership '.

‘FCA approval is the cornerstone of our drive for good governance in LGPS reform and an essential part of our formation.'

SIGN UP
For your free daily news bulletin
Highways jobs

Children's Social Workers and Senior Social Workers (Children Looked After)

London Borough of Richmond upon Thames and London Borough of Wandsworth
£32,427 to £44,658
Here in Wandsworth, we are on an exciting journey of transformation. Richmond upon Thames, London (Greater)
Recuriter: London Borough of Richmond upon Thames and London Borough of Wandsworth

Peripatetic Customer Services Adviser

Northumberland County Council
£20,444 - £22,129
Northumberland County Council operates a huge range of services across one of the largest counties in the UK. Northumberland
Recuriter: Northumberland County Council

Principal Engineer - York Central

City of York Council
£37,114 to £42,562
We have an exciting opening for an experienced highway design engineer. York, North Yorkshire
Recuriter: City of York Council

Senior Highway Adoptions Inspector

City of York Council
£31,887 to £36,380
We have an exciting opening for an experienced highway inspector. York, North Yorkshire
Recuriter: City of York Council

Highways Asset Engineer

Hackney London Borough Council
£37,260 - £38,148
Are you an experienced Asset Management professional looking for your next challenge? Hackney, London (Greater)
Recuriter: Hackney London Borough Council

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.