Contents

  1. Business Plan
  2. Inspect the council’s accounts
  3. Local Pension Board
  4. Pension fund
  5. Pension fund reports
  6. Scheme for Financing Schools
  7. School finance: Section 251 financial statements
  8. Statement of accounts

The Merton Pension Fund is administered by the Pensions Shared Service.

Pensions Shared Service website

About the fund

The Merton Pension Fund is a Local Government Pension Scheme (LGPS) that provides pension benefits to its members. The London Borough of Merton owns 92% of the fund. The fund also has other employers who provide services to the council or to the borough.

There are over 13,000 members who contribute and receive benefits from the fund.

The LGPS is a defined benefit pension scheme which means that benefits paid are defined in legislation (governed by the Public Service Pensions Act 2013 and the LGPS Regulations 2013) and provides pre-determined retirement benefits. The benefits are based on the employee's earnings and membership.

The LGPS is a 'funded' pension scheme, which means the scheme invests the contributions paid in to accumulate more funds in order to cover the pension payments due.