The £3.6bn Gloucestershire Pension Fund becomes the latest Local Government Pension Scheme (LGPS) to select LGPS Central as its preferred pooling partner.
After a meeting of its committee, the fund said the decision followed a “comprehensive review of pooling options and strategic alignment” with the committee unanimously agreeing to join LGPS Central.
This decision, said the fund, reflects its commitment to collaboration, cost efficiency and enhanced stewardship across its investment portfolio.
Matthew Trebilcock, head of the Gloucestershire Pension Fund, said: “This is a pivotal moment for our fund. LGPS Central offers a strong cultural and strategic fit, and we are confident that this partnership will deliver long-term value for our members and employers.”
Trebilcock added: “We look forward to working closely with our new partners to shape the future of pooled investment within the LGPS.”
Gloucestershire Pension Fund was part of Brunel Pension Partnership, which was culled along with Access, following the government’s Fit for the Future consultation published in May.
It still leaves seven Brunel partner funds to find new homes by the end of this month – the government’s original deadline.
These are: Avon, Buckinghamshire, Cornwall, Devon, Dorset, the Environment Agency, and Somerset who have yet to make their call on which pool they will join.
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