The London Pensions Fund Authority (LPFA) is a leading local government

pension fund A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and priva ...

. It was formed in 1989 to fill the gap left by the 1986 dissolution of the

Greater London Council The Greater London Council (GLC) was the top-tier local government administrative body for Greater London from 1965 to 1986. It replaced the earlier London County Council (LCC) which had covered a much smaller area. The GLC was dissolved in 198 ...

(GLC) in administering that body's Pension Fund. It has taken on residual responsibilities for the employees of several other defunct organisations, including the

Inner London Education Authority The Inner London Education Authority (ILEA) was an ad hoc local education authority for the City of London and the 12 Inner London boroughs from 1965 until its abolition in 1990. The authority was reconstituted as a directly elected body corpor ...

(ILEA) and the

London Residuary Body The London Residuary Body was a body set up in 1985 to dispose of the assets of the Greater London Council after the council's abolition in 1986. Similar residuary bodies were set up for the metropolitan counties. After the abolition of the Inn ...

(LRB). In 2016 LPFA created the '
''Local Pensions Partnership''
'' (LPP) in collaboration with ''Lancashire County Pension Fund'' to pool resources and improve management for the benefit of their members and employers. The LPP was set up to be open to other Local Government Pension Scheme and public sector funds in the UK. As of March 2022, the LPFA itself had around £7.6 billion of assets under management with over 93,000 members in th
Fund
Throughout its existence as a well known public sector pension scheme, the LPFA has been a key figure in influencing the Local Government Pension Scheme for local government employees and others across the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

and is described by

Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and ma ...

, as among "the world's biggest investors" It contributes to debates on issues related to the

world economy The world economy or global economy is the economy of all humans of the world, referring to the global economic system, which includes all economic activities which are conducted both within and between nations, including production, consumption, ...

and has a public commitment to responsible investment, In 2008, it was an active part of a major global coalition of large institutional investors highlighting concerns about the economic impacts of

global climate change In common usage, climate change describes global warming—the ongoing increase in global average temperature—and its effects on Earth's climate system. Climate change in a broader sense also includes previous long-term changes to E ...

. On November 2 2022, the LPFA published their
Investor Climate Action Plan
which outlines their commitment to be a net zero pension fund.

References

External links

London Pensions Fund Authority

Local Government Pension Scheme
Investment in the United Kingdom Public pension funds in the United Kingdom Organizations established in 1989 {{UK-finance-company-stub

See also

References

External links