Read about the potential merger of the Lothian Pension Fund and Falkirk Council Pension Fund
Lothian Pension Fund and Falkirk Council Pension Fund have announced that they’re exploring the possibility of a merger of operations. The two Local Government Pension Schemes represent a combined 115,000 members, 98 active employers and £11.3bn of assets.
A merger is expected to be a significant and positive development for the funds, members, employers, and colleagues in continuing to build an increasingly resilient pension fund provider for the City of Edinburgh and Falkirk councils.
Lothian Pension Fund and Falkirk Council Pension Fund have been working successfully together for over a decade and both have carried out an investigation of the expected benefits, disadvantages, costs and risks of a merger. This review is now complete with a favourable outcome.
Work to undertake due diligence and implement the proposal will proceed over the course of this year. Subject to final approval of both the City of Edinburgh and Falkirk councils, regulatory clearances and legislative process, the funds would look to target completion of the merger in 2023.
Amanda, Templeman, CFO of Falkirk Council Pension Fund says:
“Falkirk Council Pension Fund and Lothian Pension Fund are exploring an innovative approach to Local Authority Pension Fund Management which has the potential to improve the operation and resilience of the Funds. The two Funds have worked effectively together for over 10 years and the potential merger looks to build on that successful partnership. As ever, our focus is on doing the right thing to safeguard the interests of our scheme members.”
We will be keeping members, employers and colleagues updated on progress of the merger throughout the process.
Please contact us at pensions@falkirk.gov.uk if you have any questions.
