About Bedfordshire Pension Fund
Bedfordshire Pension Fund is responsible for the pensions of Local Government employees across Bedfordshire, including employees of Bedford Borough Council, Luton Borough Council and Central Bedfordshire Council. The Local Government Pension Scheme (LGPS) is one of the largest public sector pension schemes in the UK. It is a nationwide pension scheme for people working in Local Government or working for other types of employer participating in the scheme.
The LGPS is administered locally through regional pension funds. Bedford Borough Council is the administering authority of Bedfordshire Pension Fund. Bedford Borough Council has delegated day to day pensions operations to the Assistant Chief Executive (Enabling). The Pension Fund Committee considers both Pension Fund investment and administration matters.
The Local Government Pension Scheme (LGPS) was established in 1974 to cover the future pension entitlements of all eligible employees of the Borough and Unitary Councils, other than teaching staff who have their own pension scheme. A number of other bodies also participate in the pension scheme as of right (scheduled bodies) or are admitted to the scheme following application for membership (admitted bodies).
The scheme is funded and is financed by contributions from employees and employers and by earnings from investments. Cash not immediately required to meet pensions and other benefits is invested in a selection of securities, equities and property. The Pension Fund must be sufficient to sustain the future pension entitlements of both past and present employees. This is achieved by adjusting the level of employers' contributions every three years following an actuarial review of the fund by the fund's actuary.
For more information about the Fund please explore the options available using the menu on the left.
The national website for the LGPS is lgpsmember.org
The Local Government Pension Scheme is statutorily based and is governed by the Local Government Pension Scheme Regulations 2013 and subsequent amendments and regulations.
The information contained in this site is for general use and cannot cover every personal circumstance or specific protected rights. In the event of any dispute over pension benefits, the appropriate legislation will prevail. This site does not confer any statutory rights and is provided for information purposes only.