About the Hampshire Pension Fund
The Hampshire Pension Fund is part of the national Local Government Pension Scheme (LGPS).
The LGPS is one of the largest pension schemes in the UK with over 6.1 million scheme members. To qualify to be a member of the LGPS you must work for an employer who participates in the scheme and not be entitled to join another public sector pension scheme. The LGPS is a statutory defined benefit scheme.
Members of the Hampshire Pension Fund include people who work for Hampshire County Council, district, borough and city councils in Hampshire as well as a whole range of other organisations such as schools, academies, colleges, town and parish councils and charities who have applied to be part of the fund. The Hampshire Pension Fund is one of the largest LGPS funds in the country with over 350 participating employers and a fund valued at almost £10 billion (31 March 2024).
Our primary responsibility is to ensure pension benefits are calculated and paid correctly. Payments are made in a variety of circumstances including retirement, redundancy, ill health and even on death or are transferred to other pension arrangements.
Hampshire Pension Fund — 2024/25 highlights
Over 212,000 scheme members from 402 employers in Hampshire, including over 58,000 pensioners who were paid a total of £390m of pensions in the last year.
544 hours — the total number of hours of training that Pension Fund Panel and Board members have undertaken in relation to the Pension Fund during 2024/25.
Actively working towards disinvesting from fossil fuel investments.
Scope 1&2 carbon footprint of 47 tCO2/Em for equity investments compared to the global benchmark of 59 tCO2/£m.
Committed 2.5% of the Fund to Timberland investments and agreed a £75m new investment allocation to social and affordable housing.
2024/25 Investment Returns
Committed to Responsible Investment and being a good steward of investments — reaccepted as a signatory to the UK Stewardship Code in 2024.
Confirmed all investment managers are excluding ‘controversial weapons’ from the Fund’s investment portfolios.
Holder of the Customer Service Excellence standard since 2009.
74% of assets are invested in the ACCESS pool saving Hampshire over £8.5m of investment manager fees since 2018.
Received over 70,000 calls/online channel queries from scheme members last year.
Processed 3,800 retirements — 100% within the target time.
Under £20 per member — cost of Administration and Governance, compared to the LGPS average of £44 (excluding Hampshire).
Funding level of 107.1% — how the Pension Fund’s current market value of investments compares with the total pensions it is expected to pay.
The Pension Fund’s full Annual Report is available here:
