City of Westminster Pension Fund
Information about the Local Government Pension Scheme for all eligible employees of the council.
Published: 12 May 2021
Last updated: 13 May 2022
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.
The Committee has twelve 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||Basis/strategy|
|Baillie Gifford (LCIV)||Global equity||Pooled active|
|Legal and General||Passive global equity||Pooled passive|
|Insight Investment Management||Fixed income, bonds||Pooled passive|
|Abrdn Investments||Long lease UK property||Pooled active|
|Ruffer (LCIV)||Multi asset||Pooled active|
|Pantheon Ventures||Global infrastructure||Pooled active|
|CQS and Pimco (LCIV)||Fixed income, multi asset credit||Pooled active|
|Morgan Stanley (LCIV)||World equity||Pooled active|
|Macquarie||Renewable infrastructure||Pooled active|
|Quinbrook||Renewable infrastructure||Pooled active|
|Man Group||Affordable housing||Pooled active|
|Northern Trust||Ultra-short ESG bonds||Pooled active|
The fund has Northern Trust as its global custodian.
The committee appointed Deloitte 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 County Council 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, please contact:
Hampshire Pensions Services, Hampshire County Council, 2nd Floor EII East, The Castle, Winchester, SO23 8UJ
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:
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]