About the Fund
The Fund’s main purpose
- To provide a sustainable and affordable career average pension to its members, both present and future;
- To provide an effective service for the members and scheme employers of the West Midlands Pension Fund;
- To invest the Fund's assets and achieve target investment returns;
- To pay out monies in respect of scheme benefits, transfer values, costs, charges and expenses and to receive payments in respect of contributions, transfer values and investment income;
- To be a source of good practice and to be a top performing LGPS pension fund;
- To consistently demonstrate excellent customer service and improve staff performance in all areas business through staff development;
- To be a good source of practical and technical information for interested parties.
The Fund has over 267,000 members and 400 scheme employers. The service endeavors to provide a customer-focused and quality service delivered cost-effectively and within published timescales.
There are three main categories of membership, compromising of actively contributing members employed at one of the scheme employers (98,000+), members who have left employment but have a deferred entitlement (89,000+) and members in receipt of pensions, most paid monthly (79,000+).
A diversified portfolio of assets amounting to £9.8bn is managed primarily by an in-house team of investment professionals, having due regard to risk and return within the Fund’s objectives.
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