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LPFA to administer Bedfordshire Fire and Rescue pension plan

5 Mar 2014

The London Pensions Fund Authority (LPFA) has agreed to provide full pension administration Bedfordshire Fire and Rescue Service.

LPFA signed a four-year contract to provide both new and old firefighter pension schemes, alongside various payroll services

Susan Martin, chief executive at LPFA, said, Having looked after the pensions of over 15,000 fire fighters for almost a decade and a half, the LPFA is uniquely positioned to manage the Fire Brigade and other public pension schemes. Through the delivery of unique new services alongside established expert administrative functions, we will be able to effectively support Bedfordshire Fire and Rescue Service as they continue to provide society with an essential, lifesaving service.”

LPFA has been particularly vocal as to the benefits of pooling pension fund assets – potentially including 32 London boroughs and Transport for London. LPFA last year become the tenth signatory to the £2bn Pensions Infrastructure Project, which will help finance long-term infrastructure projects.

Recent research into local authority pension funds, found that local government pension funds could be paying hundreds of millions of pounds more than necessary to external fund managers.

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