Finance and Investments
The County Council is the designated statutory body (Administering Authority) responsible for administering the Gloucestershire LGPS Fund on behalf of its scheduled and admitted bodies. The council is responsible for setting investment policy, appointing suitable persons to implement that policy and carrying out reviews and monitoring of investments and performance.
The Council have delegated the duties of the Administering Authority to the Pension Committee, formerly known as the Investment Committee, whose role it is to advise the full Council on any matter relating to the proper management and maintenance of the Gloucestershire Pension Fund. The Committee can appoint investment advisors and consultants to assist them in this role.
The Committee has delegated the day-to-day management of the Fund's investments to professional investment managers, whose activities are governed by detailed Investment Management Agreements.
The Finance and Investment team are responsible for:
- The management of all aspects of the Fund accounts and annual report
- The implementation and monitoring of compliance with the Fund's Investment Strategy
- Liaising with employers on all matters in respect of actuarial and accounting queries
- Managing the actuarial valuation process
- The maintenance and updating of Fund policies in accordance with LGPS regulations and corporate policy.
Investment Pooling -Brunel Pension Partnership Ltd (BPP)
In 2015, Government announced measures to reform the Local Government Pension Scheme (LGPS) in an effort to reduce investment costs across the sector and ultimately deliver savings for local taxpayers.
Brunel Pension Partnership Ltd (BPP) is a Local Government Pensions scheme pool and was formed on 14th October 2016. Brunel oversees the investment of pension fund assets for Avon, Buckinghamshire, Cornwall, Devon, Dorset, Environment Agency, Gloucestershire, Oxfordshire, Somerset and Wiltshire funds.
The Gloucestershire Pension Fund, through the Pension Committee, retains the responsibility for setting the detailed Strategic Asset Allocation for the Fund and allocating investment assets to the portfolios provided by Brunel.
Brunel Responsible Investment Policy(RI)
Brunel Responsible Investment and Stewardship Report 2023
Gloucestershire Pension Fund - Hermes EOS Annual Review 2021
LGPS Regulations require administering authorities to prepare, maintain, and publish various statements.
Notice of Appointment of External Auditors from 2018/19
See Downloads below for the most recent statutory statements and publications
Gloucestershire Local Government Pension Fund 2021/22 Annual Report
Gloucestershire Local Government Pension Fund 2020/21 Annual Report
Gloucestershire Local Government Pension Fund 2019/20 Annual Report
Gloucestershire Local Government Pension Fund 2018/19 Annual Report
Gloucestershire Local Government Pension Fund 2017/18 Annual Report
Independent Auditor's Consistency Report 2021/22
Actuarial Valuation Reports
Gloucestershire Local Government Pension Fund: Actuarial Valuation Report: March 2022
Gloucestershire Local Government Pension Fund: Actuarial Valuation Report: March 2019
Gloucestershire Local Government Pension Fund: Actuarial Valuation Report: March 2016
Gloucestershire Local Government Pension Fund: Actuarial Valuation Report: March 2013
Investment Performance Reporting
Gloucestershire Pension Fund Investment Performance Report Q1 2023
Gloucestershire Pension Fund Exit Credit Policy
Gloucestershire Pension Fund Governance Policy & Compliance Statement
Gloucestershire Pension Fund Reporting and Recording Breeches of the Law Policy (approved December 2021)
Gloucestershire Pension Fund Statement of Administering Authority Discretions Policy (approved December 2021)
Gloucestershire Pension Fund Cessation Policy
Gloucestershire Pension Fund Contribution Reviews Policy
Gloucestershire Pension Fund Pre-Payment Policy
Gloucestershire County Council Communications Policy Statement (August 2018)
Gloucestershire County Council Pension Fund Investment Strategy Statement December 2022
Gloucestershire County Council Pension Fund Risk Management Policy December 2021
Pension Administration Strategy - Gloucestershire Local Government Pension Fund
Funding Strategy Statements
Gloucestershire Local Government Pension - Funding Strategy Statement March 2023
Gloucestershire Local Government Pension Fund Business Plan 2023/24
Pension Board Reports