About the City of Westminster Pension Fund

Information about the City of Westminster Pension Fund, the fund managers, and our policy and strategy statements.

The City of Westminster administers the Local Government Pension Scheme which provides death and retirement benefits for all eligible employees of the council and the admitted and scheduled bodies.

The council has delegated the management of the pension fund to the Pension Fund Committee who decide on the investment policy most suitable to meet the liabilities of the scheme and the ultimate responsibility for the investment strategy lies with them.

Investment managers

The committee has specialist investment managers to manage the fund's investments. The managers' activities are constrained by their detailed Investment Management Agreements, which incorporate the statutory restrictions. The managers and their respective investment mandate types are listed below:

Name of investment manager	Mandate type
Name of investment manager Baillie Gifford (LCIV)	Mandate type Global equity
Name of investment manager Legal and General	Mandate type Passive global equity
Name of investment manager Insight Investment Management	Mandate type Fixed income, bonds
Name of investment manager Abrdn Investments	Mandate type Long lease UK property
Name of investment manager Ruffer (LCIV)	Mandate type Multi asset
Name of investment manager Pantheon Ventures	Mandate type Global infrastructure
Name of investment manager CQS and Pimco (LCIV)	Mandate type Fixed income, multi asset credit
Name of investment manager Morgan Stanley (LCIV)	Mandate type World equity
Name of investment manager Macquarie	Mandate type Renewable infrastructure
Name of investment manager Quinbrook	Mandate type Renewable infrastructure
Name of investment manager Man Group	Mandate type Affordable housing
Name of investment manager Northern Trust	Mandate type Ultra-short ESG bonds
Name of investment manager CVC Credit	Mandate type Private debt
Name of investment manager CBRE, Octopus and Savills (LCIV)	Mandate type Affordable housing

The fund has Northern Trust as its global custodian.

The committee appointed Isio as independent advisor on investment strategy and to oversee the activities of the investment managers.

AEGON and Utmost Life and Pensions are the Fund's additional voluntary contribution providers.

Hymans Robertson has been appointed as independent actuary to the fund.

Hampshire Pension Services is contracted to administer the benefits of the scheme, and each year send out statements of likely future benefits to scheme members.

Contact information

If you are employed by the council and wish to join the scheme, or require more information about your membership, please contact:

Hampshire Pensions Services, Hampshire County Council, 2nd Floor EII East, The Castle, Winchester, SO23 8UJ

City of Westminster Pension Fund website
Email pensions@hants.gov.uk
Telephone 01962 845588

Policy and strategy statements

As the administering authority for the pension fund, the council is required to publish the related policy and strategy statements. These can be accessed at:

Pension fund stewardship code 2025 PDF, 1001.21 KB, 59 pages

Pension Fund Annual Report 2023/24 PDF, 9.76 MB, 215 pages

Responsible Investment Statement for 2025 PDF, 2.35 MB, 23 pages

Governance Compliance Statement DOCX, 33.68 KB

Stewardship Policy DOCX, 132.71 KB

Funding Strategy Statement, 2022 DOCX, 473.75 KB

Actuarial Valuation 2022 PDF, 1.19 MB, 41 pages

Pension Board policies

The Pension Board was established to monitor and ensure compliance with the regulations and other legislation relating to the management of the pension fund. The related policies for the board can be accessed by clicking on the links below:

Terms of Reference City of Westminster Pension Board DOCX, 27.99 KB

Code of Conduct City of Westminster Pension Board DOCX, 24.44 KB

Conflicts of interest policy City of Westminster Pension Board DOCX, 26.79 KB

Knowledge and Skills policy City of Westminster Pension Board DOCX, 27.95 KB