The Avon Pension Fund (the Fund) administers the Local Government Pension Scheme (LGPS) for over 450 employers in the former Avon area. Employers include local unitary councils, universities, academies, town and parish councils, housing associations and charities. The LGPS is a defined benefit scheme. This means your pension is worked out using a set formula based on your earnings for each year you are a member of the scheme. When you retire, your pension will be paid for life and is guaranteed by Government.
With more than 135,000 members, governance is important to helping the fund run smoothly and meet regulations. Governance refers to the way in which an organisation is managed at the highest level, and the systems in place for this.
Bath & North East Somerset Council are the administering authority and are legally responsible for the Fund. The council delegates its responsibility for administering the Fund to the Avon Pension Fund Committee, which is its formal decision-making body.
There are many parties involved in the management and administration of the LGPS.
Pension Committee
The council delegates its responsibility for administering the fund to the Avon Pension Fund Committee. The Committee meets quarterly and is the Fund’s formal decision-making body. Committee membership includes employer and scheme member representatives, as well as three independent members.
The Committee has an Investment Panel to consider the management and investment of the Fund’s assets. The panel is responsible for overseeing investment decisions and the work Brunel Pension Partnership do on our behalf. The panel may make recommendations to the main committee about strategic issues. An Investment Consultant supports both the Committee and the Investment Panel, as well as officers.
The Committee make all strategic decisions, in the case of investments. However, the day-to-day functions of investment management and custody are outsourced. Officers in the Finance and Investments team and the Pensions Administration team generally make decisions about benefits administration, on the committee's behalf.
View Avon Pension Fund Committee membership, meeting dates, agendas and minutes
View Avon Pension Fund Committee – Investment Panel membership, meeting dates, agendas and minutes
Committee Annual Report
This report provides a comprehensive overview of the Committee’s workplan, looking back over the financial year.
Download our Committee Annual Report 2023-2024 (PDF, 167,75KB)
Pension Board
All LGPS funds are required to have a local pension board. The Board is made up of member and employer representatives and their role is to assist with the governance of the fund. The board helps to ensure the LGPS is well managed and representative at a local level and that best practice requirements are met.
Pension Board Annual Report
The Board report provides an overview of the Board’s activities and key developments over the reporting period.
Download our Pension Board Annual Report 2023-2024 (PDF, 169.9KB)
If you would like to contact the Pension Board please email: avon_pensionboard@bathnes.gov.uk
LGPS at a national level
Ministry of Housing, Communities and Local Government (MHCLG)
MHCLG are the government department with overall responsibility for the LGPS in England & Wales. They deliver on strategic management and policy making.
Local Government Association (LGA)
The LGA provide guidance on the technical aspects of the LGPS. They offer a range of training videos and guides to assist employers, funds, and members to understand the Regulations.
Local Government Scheme Advisory Board (SAB)
The Local Government Scheme Advisory Board (SAB) are a national body representing employers and scheme members. They work with the Government and other stakeholders to encourage best practice, increase transparency, and coordinate technical and standards issues.
The Administering Authority (B&NES)
Usually a council has the responsibility of managing all aspects of individual LGPS funds. Bath & North East Somerset Council (B&NES) are the administering authority and are legally responsible for Avon Pension Fund.
Reports, policies and statements
Avon Pension Fund Annual Report
This is a comprehensive report written by Avon Pension Fund. It provides detailed information about the financial and operational performance of the Fund over the previous financial year.
Download the Avon Pension Fund Annual Report 2023-2024 (PDF, 1.9MB)
Download the Avon Pension Fund Committee Terms of Reference 2024 (PDF, 207.71KB)
Governance Compliance Statement
This statement outlines the steps taken by the fund to ensure we operate in compliance with relevant laws and regulations and adhere to governance requirements.
Download our Governance Compliance Statement 2024 (PDF, 185.41KB)
Download our Representation Policy (PDF, 170.33KB)
Overpayment and Underpayment Policy
This policy sets out how Avon Pension Fund; manages, identifies and resolves the overpayment and underpayment of Pension Scheme Benefits and Contributions.
Download our Overpayment and Underpayment Policy (PDF, 395.01KB)
