Avon Pension Fund has confirmed its decision to join Local Pensions Partnership Investments (LPPI), as the government's final pool selection deadline closes in.

The pension fund explained that it reviewed its options with the support of KPMG, considering several factors, such as investment strength, cost savings, culture, and alignment with government goals.

The decision in principle was then confirmed at the fund's latest pension committee meeting, and will be confirmed with the government ahead of the 30 September deadline. 

Avon Pension Fund chair, Councillor Toby Simon, said: “LPPI have impressed us throughout this process with their strong investment and advisory capabilities and commitments to their new shareholders.

“We see significant opportunities for the new, larger pool to enhance purchasing power, deliver cost efficiencies and unlock access to new investment opportunities.” 

Avon Pension Fund is the latest in a string of Local Government Pension Scheme (LGPS) funds to select new pooling partners, after Access and Brunel Pensions Partnership failed to receive the green light as part of the government's LPGS reforms.

Avon is also the second Brunel fund to select LPPI, joining Devon County Council Pension Fund at the pool.

However, Avon Pension Fund suggested that a "material number" of former Brunel funds are expected to join LPPI, with reports suggesting that LPPI may also be considering integrating the Brunel business in future.

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