In one of the final moves of partner funds finding a new home, Buckinghamshire Council’s Pension Fund has selected London CIV as its new pooling partner.
This follows the government’s decision to cull Brunel Pension Partnership, along with Access, following its Fit for the Future consultation in May, meaning the partner funds connected to these two pools needed to find a new pooling home.
The move also follows the unanimous agreement in principle by both London CIV’s 32 partner funds and the Buckinghamshire Pension Fund committee to join London CIV.
Buckinghamshire Council’s cabinet member for resources and chair of the pension fund committee, councillor Robert Carington said: “We have a strong history of supporting the pooling agenda, being effectively 100% pooled, and look forward to building a strong and collaborative relationship with London CIV and its partner funds.”
In parallel, Carrington said the fund will continue to work closely with its colleagues at Brunel and Brunel partner funds to ensure a smooth and coordinated transition.
“Our shared goal is to support our employers, members and the sector in achieving long-term resilience, stability, and value for money,” said Carrington.
Dean Bowden, chief executive of London CIV, (pictured) added: “We are delighted that Buckinghamshire has chosen London CIV as its new LGPS investment pool. Given our cultural alignment and shared vision for the future direction of pooling, we look forward to working with our new Buckinghamshire colleagues in delivering sustainable pensions for those we serve”.
All ten Brunel partner funds have now chosen a new LGPS pool to join, effectively ending Brunel’s operations.
“Congratulations to all of our clients on reaching decisions about their respective futures – we wish them all very well through the transition and into the next phase of pooling,” said Laura Chappell, CEO at Brunel.
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