Growth was a common theme for the financial year 2023/24. Whether looking at total payments to members, the number of employers in the fund or the overall fund assets, most arrows point upwards. 

Our robust financial position, with pension fund assets reaching £5.83 billion, brings an improved 98% funding position (up from 95% the previous year).

Have you ever wondered how the money in your pension is invested? If so, you may like to hear about our investment in local solar farms. We recently committed 3% of our assets to local impact investments like this South Gloucestershire solar farm. The solar farm will generate clean energy and help us achieve our new net zero 2045 goal. It will also generate a good financial return.

Our 2024 strategy includes a commitment to local impact investments, an approach embodied in our recent collaborative investment in south-west solar farms. Find out more in the case study, including where we plan to invest next for local impact. 

As committed responsible investors for over 20 years, our strategy covers our approach to responsible investing. You can also read about our approach to reaching net zero by 2045.

We’re inviting members to step forward and nominate themselves to be a member representative on the Local Pension Board. 

The Board provides an essential oversight and scrutiny role for Avon Pension Fund, helping protect the pensions of over 135,000 members.  

The closing date for applications is 2 September 2024. 

Our old website had to be replaced. We decided to take the opportunity to make our website more user-friendly.   

We’ve designed this website to help members do more of the tasks they want to do online, making content easier to find and simpler to understand. 

The new investment forms part of the largest operational solar deal ever transacted in the UK. It involves the Avon, Cornwall, Devon, Gloucestershire, Oxfordshire and Wiltshire LGPS Funds, who share a strong commitment to tackling climate change. The collaborative investment in south-west solar will generate around 196MW, enough to power nearly 70,000 homes.

We’re pleased to launch our new Annual Responsible Investment report. Our achievements include adopting a new set of climate targets and a 2045 net zero goal, agreeing a new local impact allocation and joining a south-west partnership.

Avon Pension Fund has announced an ambitious new goal to be net zero across all its investments by 2045. The latest move builds on significant work already completed by the Fund to maximise the real-world impact of its £5.4 billion investment portfolio. 

The rules of the pension scheme changed on 1 October 2023 to address age discrimination. You may qualify for underpin protection if you were an active member of the LGPS on or before 1 April 2012 and active between 1 April 2014 and 31 March 2022. If you do qualify for underpin protection, you do not need to do anything we will write to you in due course.

Councillor Paul Crossley, Chair of the Avon Pension Fund Committee and Councillor Shaun Stephenson-McGall, Committee Vice-Chair and Chair of the Investment Panel, are signatories to a letter calling for action on the global stocktake.