Buckinghamshire Pension Fund Selects London CIV as its New Pooling Partner

Following the Government’s decision to not allow the Brunel LGPS Pension Pool to continue, Buckinghamshire Council’s Pension Fund has selected London CIV (“LCIV”) as its new pooling partner.

This follows the unanimous positive agreement in principle by LCIV’s 32 partner funds and the Buckinghamshire Pension Fund Committee.

Commenting, Buckinghamshire Council’s Cabinet Member for Resources and Chair of the Pension Fund Committee, Cllr Robert Carington said:

“We are grateful that this ringing endorsement bodes well for the future partnership. We have a strong history of supporting the pooling agenda, being effectively 100% pooled, and look forward to building a strong and collaborative relationship with LCIV and its partner funds, working together to deliver the objectives of the ‘Fit for the Future’ programme and protect and grow the pensions of the Fund’s members. In parallel, we will continue to work closely with our colleagues at Brunel and our fellow Brunel partner funds to ensure a smooth and coordinated transition to our respective pools. Our shared goal is to support our employers, members and the sector in achieving long-term resilience, stability, and value for money.”

Dean Bowden, Chief Executive of London CIV said:

“We are delighted that Buckinghamshire has chosen London CIV as its new LGPS investment pool. Given our cultural alignment and shared vision for the future direction of pooling, we look forward to working with our new Buckinghamshire colleagues in delivering sustainable pensions for those we serve”.

All ten Brunel clients have now chosen a new LGPS pool to join. Brunel have released a short statement on their website outlining their commitment to a smooth transition process for each.

“Congratulations to all of our clients on reaching decisions about their respective futures – we wish them all very well through the transition and into the next phase of pooling. We will also work with our clients and their three chosen pools to help deliver an effective transition that serves the long-term interests of their members,” said Laura Chappell, CEO at Brunel.