Border to Coast Pensions Partnership, the largest local government pension scheme (LGPS) pool, has said that seven LGPS funds have confirmed their intention to join the pool.
Following an in-depth review process and engagement with Border to Coast, the seven funds: Cambridgeshire, East Sussex, Essex, Hertfordshire, Kent, Northamptonshire and West Sussex, have entered discussions to join the pool.
This follows the government’s Fit for the Future consultation which resulted in the culling of two pools: Access and Brunel Pension Partnership, meaning 21 partner funds needed to find new homes.
Wiltshire Pension Fund, which had been part of Brunel, has already selected LGPS Central as its preferred pooling partner.
Councillor Jeremy Hunt of West Sussex Pension Fund, commenting on behalf of the seven LGPS funds, said: “In response to the Government’s Fit for the Future policy, each authority has undertaken a comprehensive review to determine their most suitable future pooling partnership.
“Following this robust evaluation, seven funds have chosen to enter exclusive discussions with Border to Coast Pensions Partnership as their preferred future pooling partner.”
Hunt said Border to Coast “offers a strong governance framework and a collaborative approach.”
And he added: “Border to Coast’s proven track record gives us confidence in a smooth transition and continued excellence in service delivery.”
Border to Coast joint committee chair, George Jabbour, added: “We’re really pleased that these funds have signalled their intent to work with us to form a new partnership, as they share our values of collaboration, with a focus on openness.”
Border to Coast CEO, Rachel Elwell (pictured), also noted “This decision to form a new partnership is reflective of our joint commitment to collaboration, innovation, and shared purpose.”
Border to Coast currently has 11 funds: Bedfordshire, Cumbria, Durham, East Riding of Yorkshire, Lincolnshire, North Yorkshire, South Yorkshire, Surrey, Teeside, Tyne and Wear, and Warwickshire.
They currently amount to a total of £65bn of investments.
The seven funds who have stated their intention to join Border to Coast will add a further £45bn, giving the pool a substantial boost.
The timeline behind the LGPS changes
November 2024
Government launches Fit for the Future consultation
February 2025
LGPS pools submit transition plans to outline how they will meet the new policy framework
April 2025
The government announces Brunel and Access funds are required to find a new pool
September 2025
The 21 LGPS funds to have ‘in principle’ agreement to have joined a new pool
April 2026
Funds to have completed appropriate governance and formally join their new pool.
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