This article directly stems from the research process for our UK pension fund database. The list – offered as an Excel file – is perfectly suited to get in touch with the most relevant pension funds in the UK.
This article introduces you to three important pension funds in London that were picked from our researched list targeting the largest pension schemes in the United Kingdom.
1. Transport for London
The Transport for London (TFL) pension fund is a retirement savings plan that provides benefits to employees of TFL and its subsidiaries. The fund is managed by the London Pension Fund Authority (LPFA), which is responsible for the investment of the fund and the payment of benefits to members. The pension scheme is a defined benefit plan, meaning that members are guaranteed a certain level of income in retirement. The amount of income a member will receive is based on their salary, years of service, and age at retirement. They also offer a range of other benefits, such as life insurance, ill-health retirement, and death in service benefits. It is one of the largest pension funds in the UK, with assets of over £10B.
2. London Pension Fund Authority
The London Pension Fund Authority (LPFA) is a local government pension fund that provides pensions to employees of the 32 London boroughs and the City of London. Established in 1989, the LPFA is the largest local government pension fund in the UK, with assets of over £20B. The fund has 91,600 members and 124 contributing employers. The LPFA is also committed to making a positive contribution to the local economy and to the communities of London. They invest in a wide range of projects, from housing and infrastructure to renewable energy and social enterprises.
3. Church of England
The Church of England Pension Fund is a registered charity that provides pensions and other financial benefits to members of the Church of England. The fund is responsible for the retirement savings of over 1.5 million members. Established in 1891, the fund is one of the oldest pension funds in the United Kingdom and is managed by the church commissioners. The fund is made up of investments in a variety of asset classes, including equities, fixed income, property, and alternative investments.
Picture Source: Charles Postiaux