About the Fund
The Fund’s main purpose
- To provide a sustainable and affordable final salary pension to its members, both present and future;
- To provide an effective service for the members of the West Midlands Metropolitan Authorities Pension Fund;
- To receive monies in respect of contributions, transfer values and investment income;
- To pay out monies in respect of Scheme benefits, transfer values, costs, charges and expenses;
- To be a source of good practice and technical information for interested parties;
- To maintain an accurate database;
- To invest the Fund's assets;
- To provide funds to pay out monies in respect of Scheme benefits, transfer values, costs, charges and expenses.
The Fund has over 242,000 members and 180 Scheme employers. The service endeavours to provide a quality service delivered cost-effectively and within a published timescale.
There are three main categories of membership, comprising of actively contributing members employed at one of the Scheme employers (108,000), members who have left employment but who have a deferred entitlement (70,000) and members in receipt of pensions, paid monthly (63,000).
A diversified portfolio of assets amounting to £7.7bn is managed primarily in-house by a team of investment professionals, having due regard to risk and return within the Fund's objectives.
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