The Local Government Pension Scheme (LGPS) is one of the largest pension schemes in the UK. It is a defined benefit pension scheme, which means members pension is based on their salary and how long they have paid into the scheme.
A members pension is not affected by how well investments perform - the LGPS provides a secure and guaranteed income every year when you stop working. However, investment returns do form part of the financial assumptions used by the Fund Actuary when setting employer contributions.
The West Sussex LGPS has an investment portfolio of £5.7bn which is invested in companies (either listed, or private), property and infrastructure assets (such as renewable power, water companies, aviation) or loans to companies.
To portfolio itself is managed by industry experts, appointed by the Pensions Committee or via the LGPS asset pool. Each manager is expected to engage with companies on a range of environmental, social and governance issues to maximise return and to drive positive change.
The Pensions Committee is responsible for the determination of the Pension Fund’s investment strategy and the oversight of the delivery of the strategy. In line with the regulations, the Pensions Committee must prepare and publish an investment strategy statement, which documents the strategy.
The Pensions Committee have recently reviewed the investment strategy for the West Sussex Pension Fund and prepared a draft statement. We are now taking the opportunity to consult on the proposed contents of the investment strategy.
Investment strategy statement consultation draft 2024 (PDF, 1.6MB)We would welcome your comments by emailing pensions.feedback@westsussex.gov.uk by 30 June 2024.
All comments received will be considered by the Pensions Committee prior to the publication of the investment strategy statement later this year.