Border to Coast Pensions Partnership
The Local Government Pension Scheme (LGPS) in England and Wales is currently administered by 86 separate pension funds, North Yorkshire Pension Fund is one of these. Each Fund is currently responsible for managing its own investments.
In May 2014 the Government consulted on changes to the LGPS which could produce cost savings and efficiencies. In the Summer 2015 Budget the Government said it would invite local authorities to submit proposals to pool investments to reduce costs. LGPS investments would no longer be managed separately by each Fund but would be merged into a number of ‘pools.’
The North Yorkshire Pension Fund has joined an investment pool with 10 other pension funds to form the Border to Coast Pensions Partnership (BCPP). Further information on the BCPP and the funds within it can be found in the Pooling Proposal. You will also find links to other information regarding the reform of investments below.