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Seven LGPS funds signal intent to join Border to Coast

Border to Coast Pensions Partnership (Border to Coast) today announces that seven LGPS funds have confirmed their intention to join the pool, creating a new collaborative partnership.

Following a thorough review process and detailed engagement with Border to Coast, the seven funds (Cambridgeshire, East Sussex, Essex, Hertfordshire, Kent, Northamptonshire and West Sussex) have entered exclusive discussions on joining the pool. The decisions follow the Government’s ‘Fit for the Future’ consultation which laid out a timeline and future requirements for LGPS funds and pools.

Councillor Jeremy Hunt, of West Sussex Pension Fund commented on behalf of the seven LGPS Funds: “In response to the Government’s ‘Fit for the Future’ policy, each Authority has undertaken a comprehensive review to determine their most suitable future pooling partnership. Following this robust evaluation, seven funds have chosen to enter exclusive discussions with Border to Coast Pensions Partnership as their preferred future pooling partner.

“The Border to Coast Pensions Partnership offers a strong governance framework and a collaborative approach. Border to Coast’s proven track record gives us confidence in a smooth transition and continued excellence in service delivery.”

“We would also like to thank colleagues across the LGPS community for the positive and constructive manner in which they have engaged with us throughout this process.”

Border to Coast Joint Committee Chair, George Jabbour: “We’re really pleased that these funds have signalled their intent to work with us to form a new partnership, as they share our values of collaboration, with a focus on openness. Together, we believe we can harness our combined strengths to make a difference for the LGPS.”

Border to Coast CEO, Rachel Elwell: “We’re delighted that these seven funds have selected Border to Coast as their pool of choice. This decision to form a new partnership is reflective of our joint commitment to collaboration, innovation, and shared purpose. In coming together, we can build on the collective experience and capabilities of all funds to not only strengthen our collective voice, but enhance our combined ability to deliver robust, sustainable, and cost-effective outcomes for Partner Funds.”

Border to Coast currently has 11 funds – Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, North Yorkshire, South Yorkshire, Surrey, Teesside, Tyne & Wear, and Warwickshire. They currently have c.£65bn of investments. The seven funds who have stated their intention to join Border to Coast currently have c.£45bn of investments.

Key timeline

November 2024       Government launches ‘Fit for the Future’ consultation

February 2025          LGPS pools submit transition plans to outline how they will meet the new policy framework

April 2025                   Government announces Brunel and ACCESS funds are required to find a new pool

September 2025     The 21 LGPS funds to have ‘in principle’ agreement to have joined a new pool

April 2026                   Funds to have completed appropriate governance and formally join their new pool.

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