Fund information

The Local Government Pension Scheme (LGPS) is one of the oldest public sector schemes in operation, having been established as a national scheme in 1922.

There are about 1.5 million employees currently contributing to the LGPS in England and Wales; roughly 75% of the local government workforce. They contribute to the LGPS through any one of the 89 regional pension funds in England and Wales.

The administration of benefits for the Devon LGPS and the Somerset LGPS is managed by Peninsula Pensions.

The LGPS regulations are determined by the government after consultation with employee and employer representatives, trade unions, the Local Government Association and the Local Government Pensions Committee. The latter represents a total of 409 local authorities in England and Wales, along with numerous town, parish and community councils.

Each LGPS administering authority pays its benefits from a dedicated pension fund to which both the scheme member and their employer have contributed.

Contributions paid into the scheme are invested in a variety of stocks and shares that are overseen by both funds investment management teams.