Greater Manchester Pension Fund
The Greater Manchester Pension Fund is a pension fund for employees of various institutions in Greater Manchester, United Kingdom. It is run by Tameside Metropolitan Borough Council[1] and follows the rules of the Local Government Pension Scheme.
With £23 billion in assets as of 2018,[2][3] it is the largest local authority pension scheme in the UK and 9th largest pension fund in the UK (including private companies) overall.[4]
Employers included in GMPF
[edit]Participating employers include:
- All ten Greater Manchester local authorities
- Contracted out employees of the local authorities
- Most further education colleges and numerous schools and Academies in Greater Manchester
- University of Bolton
- Manchester Metropolitan University
- Royal Northern College of Music
- Transport for Greater Manchester
- Probation Service
Investments
[edit]It includes the Greater Manchester Property Venture Fund, which invests in properties including One St Peter's Square, The Soapworks (formerly the Colgate-Palmolive factory) in Salford Quays[5] and housing managed by Places for People. Most investments are in Stock Market shares and securities. Greater Manchester Pension Fund has one of the highest proportions among UK Pension of funds invested in fossil fuel stocks[6] and is the subject of a divestment campaign.[7]
References
[edit]- ^ "Behind the scenes". Archived from the original on 26 July 2014. Retrieved 16 July 2014.
- ^ GMPF Annual Report 2013 http://www.gmpf.org.uk/2014/documents/annualreport/2013.pdf Archived 2014-07-26 at the Wayback Machine
- ^ "Greater Manchester pension fund returns 7% despite hit on global bonds". ipe.com. 17 September 2014. Retrieved 17 November 2014.
- ^ "Pension Fund Table" (PDF). HM Government. Retrieved 20 April 2019.
- ^ Soapworks sold to property fund for £60m
- ^ "£14 billion risky fossil fuel investments by UK councils revealed". Retrieved 8 August 2021.
- ^ Fossil Free Greater Manchester