ACCESS partner funds are nearing the conclusion of their internal processes to identify preferred pooling partners, the UK investment pool announced.
Earlier this year, UK ministers gave the green light to six out of eight UK local authority pension investment pools’ proposals for meeting new minimum standards set out by the government, rejecting plans put forward by Brunel Pension Partnership and ACCESS.
Key proposals included the requirement for all Local Government Pension Scheme (LGPS) assets to be pooled by 31 March 2026, and for local authority pension funds to take investment strategy advice from their respective investment pools.
This means that 21 LGPS funds will need to find new pooling partners, with a final decision required by 30 September 2025.
As a result of the UK government’s decision, ACCESS said that its partner funds have been actively assessing all available options against their strategic criteria to “ensure the continued delivery of strong outcomes for members, employers and stakeholders”.
According to an update from ACCESS, the local authorities are now nearing the conclusion of their internal processes to identify preferred pooling partners and are expected to undertake further governance steps with their selected partners over the summer, ahead of the final decision deadline of 30 September.
The pool said that not all 11 ACCESS authorities are expected to select the same pooling partner.
ACCESS added that it remains focused on delivering value and stability for its members and stakeholders during this period of transition.
At the end of last month, Wiltshire Pension Fund became the first of the 21 ‘orphaned’ pension funds to publicly announce its preferred pooling partner – LGPS Central – after being told to find a new home for its pooled assets.
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