About the Fund
The Fund’s main purpose
- To provide a sustainable and affordable final salary pension to its members, both present and future;
- To provide an effective service for the members and scheme employers of the West Midlands Metropolitan Authorities 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 260,000 members and 340 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 (97,000), members who have left employment but have a deferred entitlement (86,000) and members in receipt of pensions, most paid monthly (77,000).
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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