The Environment Agency Pension Fund (EAPF) is part of the Local Government Pension Scheme (LGPS).
The EAPF actually consists of two LGPS funds - an active fund and a closed fund. It is the pension fund for employees and former employees of the Environment Agency, an organisation that works to create better places for people and wildlife and support sustainable development.
We're responsible for administering the current and future pension benefits of just over 39,000 members, of which 12,962 are contributing to the Scheme. We have a 97% participation rate of our employees in the Scheme.
As a scheme member, you pay contributions to the LGPS. Your employer currently pays in the balance of the cost of providing your benefits after taking into account investment returns. Every 3 years, an independent actuary calculates how much your employer should contribute to the Scheme.
The most recent actuarial valuation of our Active Fund at 31 March 2022 shows £4.5 billion assets under management and an overall funding level of 103%. The EAPF remains one of the best funded in the LGPS.
Your benefits are guaranteed by the Scheme.
There are currently three employers participating in the Fund:
- Environment Agency
- Natural Resources Wales
- Shared Services Connected Limited
A Pensions Committee provides strategic direction and regular oversight, and we have a Pension Board who help to provide governance and compliance with regulations.
The day to day administration is provided through our third party administrator, Capita. The administrators provide specialist knowledge and technical advice, in addition to data gathering and complex calculations on member records.
See the latest Scheme guide and other resources on our Publications page.