About the Cumbria Pension Fund
The Cumbria Pension Fund is run by Westmorland and Furness Council on behalf of over 120 other employers within Cumbria. This means that Westmorland and Furness Council are the "administering authority" in the Local Government Pension Scheme (LGPS) Regulations.
The Pensions Committee is responsible for carrying out the Council's functions as the delegated decision making body of the Administering Authority for the management of the Cumbria Local Government Pension Scheme ("the Pension Fund") which includes its involvement in the Border to Coast Pension Partnership (BCPP) as the Council's approved Pension Pool
Governance arrangements for pension schemes in the public sector require Westmorland and Furness Council, as an administering authority for the LGPS (Local Government Pension Scheme), to have in place a local pension board. Cumbria Local Pension Board is responsible for assisting the Administering Authority of the Cumbria LGPS to comply with all relevant legislative requirements and to ensure the effective governance of the scheme.
BCPP was created to pool the investments of eleven like-minded Local Government Pension Scheme (LGPS) funds including the Cumbria Pension Fund. Its purpose is to make a difference for the Local Government Pension Scheme by providing cost-effective, innovative, and responsible investment opportunities that deliver returns over the long-term. It is regulated by the Financial Conduct Authority (FCA).
Border to Coast Pensions Partnership (BCPP)
Governance
The Pension Committee
The Pensions Committee oversees the management of Westmorland and Furness Council and act as trustees of the Fund.
The Pensions Committee
Local Pension Board
Governance arrangements for pension schemes in the public sector require Westmorland and Furness Council, as an administering authority for the LGPS (Local Government Pension Scheme), to have in place a local pension board.
Local Pensions Board
Statements
Investment Strategy Statement
This is the Investment Strategy Statement of Cumbria Pension Fund. The Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016 require administering authorities of LGPS funds to formulate and to publish a statement of its investment strategy, in accordance with guidance issued from time to time by the Secretary of State.
Fund Policy Document Investment Strategy Statement
Funding Strategy Statement
This is the Funding Strategy Statement for Cumbria Pension Fund. It has been prepared with the support of the Fund Actuary, Mercers in accordance with Regulation 58 of the Local Government Pension Scheme Regulations 2013 as amended(the Regulations) and describes Westmorland and Furness Councils funding strategy, in its capacity as administering authority, for the Cumbria Pension Fund.
Fund Policy Document Funding Strategy Statement (FSS)