Pension Fund

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 City Council and the admitted and scheduled bodies.

The Council has delegated the management of the Pension Fund (the Fund) to the Pension Fund Committee (The 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 seven 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
Majedie Asset Management UK Equities Pooled Active
Baillie Gifford Global Equity Pooled Active
Legal & General World Equity Pooled Passive
Insight Investment Management Fixed Income - Gilts Segregated Active
Insight Investment Management Fixed Income - Corporate Bonds Segregated Passive
Hermes UK Property Pooled Active
Standard Life Investments Long Lease UK Property Pooled Active
Longview Global Equity 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 Equitable Life are the Fund's Additional Voluntary Contribution providers.

Barnett Waddingham has been appointed as independent actuary to the Fund.

Surrey 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:

Pension Administration Services (WCC Team), Surrey County Council, Room G59 County Hall, Kingston upon Thames, Surrey KT1 2DN

Website: WCC Pension Fund
Email: wccpensions@surreycc.gov.uk
Telephone: 020 8541 9293

As the administering authority for the Pension Fund, the Council is required to publish the related policy and strategy statements.  These can be accessed by clicking on the links below:

The Pension Board (the 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: pensionfund@westminster.gov.uk


Last updated: 26 July 2017
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