After the government’s decision to call time on two pension pools: Access and Brunel Pension Partnership, Wiltshire Pension Fund (WPF), which has been part of Brunel, has selected LGPS Central as its preferred pooling partner.
WPF – along with 20 other LGPS Funds connected to these two pools – have been seeking a new pooling partner with a final decision required by 30 September.
In response, WPF has undertaken what it describes as “a rigorous and forward-looking assessment process,” supported by its investment advisors, Redington, to identify the most suitable partner to deliver both the government’s expectations as well as the best alignment with the fund’s investment strategy.
WPF presented the preferred pooling partner to its committee on the 24 July as LGPS Central.
“Our robust and forward-thinking assessment process, supported by Redington’s expertise, provided officers and our committee with a high level of conviction that the fund’s voice would be heard, ensuring a cultural fit through effective collaboration driving positive outcomes in the future,” WPF said in a statement.
“During our selection process, the openness demonstrated by the senior leadership team at LGPS Central gave us a high level of conviction that our voice would be heard, providing the best prospect of being able to collaborate and help drive positive outcomes in the future,” said Jennifer Devine (pictured), head of Wiltshire Pension Fund. “We felt that the culture at LGPS Central was something that we wanted to be a part of, and we are excited about the next stage of the process.”
Richard Law-Deeks, CEO of LGPS Central, added: “We welcome the opportunity to work with all prospective partners in building a model which works for all, and secures the future of LGPS investments, recognising the key role we play in supporting the payment of pension benefits. We’re pleased that, following Wiltshire Pension Fund’s rigorous due diligence, we have emerged as their preferred pool.”
But this is not the end of the process.
The decision to admit a new fund to the LGPS Central Pool rests with their shareholders.
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