About the Fund
The Environment Agency Pension Fund (EAPF, part of the Local Government Pension Scheme (LGPS)) is the pension fund of one of the world’s leading environmental organisations.
We are responsible for administering the current and future pension benefits of just under 41,000 members, of which 11,500 are contributing to the Scheme. This is a 95% participation rate of our employees in the Scheme. The most recent triennial valuation of the Active Fund on 31 March 2013 shows £2.1 billion assets under management and an overall funding level of 90%. The EAPF remains one of the best funded in the LGPS.
There are currently three employers participating in the Fund:
- Environment Agency
- Natural Resources Wales
- Shared Services Connected Limited
A Pension Committee provides strategic direction and regular oversight, with the day to day administration being delivered 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. Capita also issue benefit statements to members on an annual basis.
All LGPS Funds are required to publish a Funding Strategy Statement and a Statement of Investment Principles. The Funding Strategy Statement is used by the Actuary to inform the Fund valuation and provides the context for the development of our investment strategy.
As responsible investors we fully embrace the need to deliver a truly sustainable pension fund that delivers financially to meet the objectives of our Fund employers and members. The portfolio is managed by our in-house Investment Team with the support of external fund managers, and any change to investment policy is the responsibility of the Pension Committee.