The government has launched a consultation on merging West Midlands Integrated Transport Authority Pension Fund (WMITAPF) into the West Midlands Pension Fund (WMPF).
The West Midlands Integrated Transport Authority Pension Fund was established in 1991 to manage the pensions of local transport workers following the deregulation of bus services in the West Midlands.
Uniquely in the Local Government Pension Scheme, no public sector employers have ever participated in the WMITAPF, which is administered currently by the West Midlands Combined Authority. It comprises only two employers who are now owned by private sector parent companies and participate under separate admission agreements.
The proposal would transfer the assets, liabilities and admission agreements of the WMITAPF to Wolverhampton City Council, which administers the WMPF.
