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
Participating employers include:
- All 10 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
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.[6] Greater Manchester Pension Fund has one of the highest proportions among UK Pension Funds invested in fossil fuel stocks[7] and is the subject of a divestment campaign,.[8]
References
- ^ "Archived copy". Archived from the original on 2014-07-26. Retrieved 2014-07-16.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ 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 2014-11-17.
- ^ "Pension Fund Table" (PDF). HM Government. Retrieved 2019-04-20.
- ^ Soapworks sold to property fund for £60m
- ^ https://www.gmpf.org.uk/investments/holdings.htm
- ^ http://platformlondon.org/p-pressreleases/14-billion-risky-fossil-fuel-investments-by-uk-councils-revealed/
- ^ Fossil Free Greater Manchester