City of Westminster Pension Fund

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

The council has delegated the management of the pension fund to the Pension Fund 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.

Investment managers

The Committee has sixteen 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
Baillie Gifford (LCIV)	Global equity
Legal and General	Passive global equity
Insight Investment Management	Fixed income, bonds
Abrdn Investments	Long lease UK property
Ruffer (LCIV)	Multi asset
Pantheon Ventures	Global infrastructure
CQS and Pimco (LCIV)	Fixed income, multi asset credit
Morgan Stanley (LCIV)	World equity
Macquarie	Renewable infrastructure
Quinbrook	Renewable infrastructure
Man Group	Affordable housing
Northern Trust	Ultra-short ESG bonds
CVC Credit	Private debt
Octopus and CBRE (LCIV)	Affordable housing

The fund has Northern Trust as its global custodian.

The committee appointed Isio as independent advisor on investment strategy and to oversee the activities of the investment managers.

AEGON and Utmost Life and Pensions are the Fund's additional voluntary contribution providers.

Hymans Robertson has been appointed as independent actuary to the fund.

Hampshire Pension Services is contracted to administer the benefits of the scheme, and each year send out statements of likely future benefits to scheme members.

Contact information

If you are employed by the council and wish to join the scheme, or require more information about your membership, please contact:

Hampshire Pensions Services, Hampshire County Council, 2nd Floor EII East, The Castle, Winchester, SO23 8UJ

• WCC Pension Fund website
• Email [email protected]
• Telephone 01962 845588

Policy and strategy statements

As the administering authority for the pension fund, the council is required to publish the related policy and strategy statements. These can be accessed at:

 

Pension Board policies

The Pension Board was established to monitor and ensure compliance with the regulations and other legislation relating to the management of the pension fund.  The related policies for the board can be accessed by clicking on the links below:

More information

If you require more information about the fund's investments or governance, please contact:

Pensions Fund Team, City Hall, 64 Victoria Street, London SW1E 6QP 

Email: [email protected]