Council tax and finance

 
 

Pension Fund

City of Westminster Pension Fund

The City of Westminster operates the Local Government Pension Scheme which provides death and retirement benefits for all eligible employees of the City Council and the admitted bodies.

The Council have delegated the investment management of the scheme to the Superannuation Investments Committee who decide on the investment policy most suitable to meet the liabilities of the Scheme and the ultimate responsibility for the investment strategy lies with them.

The Committee has five specialist investment managers to manage the Fund's investments. The managers' activities are constrained by their detailed Investment Management Agreements, which incorporate the statutory restrictions. The managers and their respective investement mandate types are listed below:

Name of investment managerMandate type
Majedie Asset ManagementUK Equity Mandate
State Street Global AdvisorsUK Equity Mandate
Alliance BernsteinGlobal Equity Mandate
Newton Investment ManagementGlobal Equity Mandate
Insight Investment ManagementBond Mandate

The Fund has ABN AMRO Mellon GSS B.V. as its GLobal Custodian.

The Superannuation Investments Committee have appointed Mercers Investment Consulting as independent advisors to advise on investment strategy, oversee the activities of the investment managers.

Scottish Equitable and Equitable Life have been appointed as the Fund's Additional Voluntary Contribution providers.

Hewitt Bacon & Woodrow have been appointed as actuaries to the Fund.

The London Pensions Fund Authority have been contracted to administer the benefits of the scheme, and each year send out statements of likely future benefits to scheme members.

If you are employed by the Council and wish to join the scheme, or require more information about your membership contact the London Pension Fund Authority, Dexter House, 2 Royal Mint Court London EC3N 4LP email westminster@lpfa.org.uk.

You can also download the scheme's statement of investment principles in Adobe PDF format by clicking on the link below:

Please note the appendices to the above document are not available to download. You may request copies from the Council by completing the online request form.

As the administering authority for the Pension Fund, the Council is required to publish its Governance Policy and a Governance Compliance Statement. These can be accessed by clicking on the links below:

If you require more information about the investments or governance of the scheme contact:

The Director of Finance, City Hall, 64 Victoria Street, London SW1.