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Oxfordshire Pension Fund, a partner fund of Brunel pool, has picked LGPS Central as its preferred pooling partner. The news follows Wiltshire Pension Fund’s July announcement that it would join LGPS Central.
Brunel’s funds intend to move as a group, including Oxfordshire Pension Fund. The remaining funds in Brunel – the pool that is being shuttered after ministers decided that it did not meet their criteria – are yet to take their formal decisions ahead of a deadline of 30 September, but mallowstreet understands that Oxfordshire continues to work in partnership with the other funds.
A spokesperson for Oxfordshire Pension Fund said: “We have been consistently impressed with the senior leadership team at LGPS Central, which gives us a high degree of confidence that, working in partnership, we can not only deliver but exceed the government’s vision for the LGPS. We believe that LGPS Central, operating at scale, can drive even greater value and performance outcomes than those already achieved.”
Chief executive of LGPS Central Richard Law-Deeks, said: “We are delighted that Oxfordshire has confirmed their intent to join LGPS Central following a thorough review. We look forward to supporting a smooth transition that will benefit all partner funds and scheme members.”
The Brunel partner funds that are yet to announce their pooling partner are:
Avon;
Buckinghamshire;
Cornwall;
Devon;
Dorset;
Environment Agency;
Gloucestershire;
and Somerset.
Aside from Brunel, only Access has been ordered to close its doors. Access funds have already selected their new pooling partner. Last month, Border to Coast Pensions Partnership said the pension funds for Cambridgeshire, East Sussex, Essex, Hertfordshire, Kent, Northamptonshire and West Sussex, who together look after £45bn, intend to join it.
Do you expect the remaining Brunel funds to rejoin Oxfordshire and Wiltshire at LGPS Central?
