The aims of the fund
- to keep the contribution rate as constant as possible at reasonable cost to the taxpayers
- to manage employers’ liabilities effectively
- to ensure that sufficient resources are available to meet all liabilities as they fall due
- to maximise the returns from investments within reasonable risk parameters.
The purpose of the fund
- is to receive monies in respect of contributions, transfer values and investment income
- is to pay out monies in respect of scheme benefits, transfer values, costs, charges and expenses as defined in the relevant government regulations.
Investment pooling
The aim of investment pooling is to use the combined buying power of partnered funds to reduce costs, improve investment returns and widen the range of available asset classes for investment – all for the benefit of local government pensioners, employees and employers. LGPS Central (“the Pool”) is the asset pool which Nottinghamshire Pension Fund jointly owns with seven other LGPS funds in order to meet the government’s criteria for investment pooling issued in November 2015. The Pool has obtained FCA authorisation and manages collective investment vehicles on behalf of the participating funds.
The other partner funds are:
- Cheshire Pension Fund
- Derbyshire Pension Fund
- Leicestershire Pension Fund
- Shropshire Pension Fund
- Staffordshire Pension Fund
- West Midlands Pension Fund
- Worcestershire Pension Fund
The LGPS Central Joint Committee consists of one elected member from each Council of the eight partner funds. The Committee meets twice per year, and its papers are available (after clicking, scroll down and expand the section entitled "LGPS Central Joint Committee").