Pension Fund
City of Westminster Superannuation 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 has 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 eight 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 investment mandate types are listed below:
| Name of investment manager | Mandate type |
|---|---|
| Hermes | Property |
| Insight Investment Management | Fixed Income |
| Legal & General | Property |
| Majedie Asset Management | UK Equities |
| Newton Investment Management Ltd | Global Equity |
| State Street Global Advisors International | Global Equity |
| State Street Global Advisors UK | UK Equity |
| West End of London Property Unit Trust | Property |
The Fund has Bank of New York Mellon as its Global Custodian.
The Superannuation Investments Committee appointed Deloitte as independent advisor on investment strategy and to oversee the activities of the investment managers.
AEGON (Scottish Equitable) and Equitable Life are the Fund's Additional Voluntary Contribution providers.
Aon Hewitt has been appointed as independent actuary to the Fund.
The London Pensions Fund Authority is 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 Superannuation Committee Copy of Policies. These can be accessed by clicking on the links below:
- Pension Fund Annual Report & Accounts 2010-11
- Whole of Pension Fund Disclosures under IAS 26
- Compliance statement
- Communications Policy
- Funding Strategy Statement
- Actuarial Valuation, 31 March 2010
If you require more information about the fund's investments or governance contact:
The Chief Operating Officer, City Hall, 64 Victoria Street, London SW1.
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