The Local Government Pension Scheme Advisory Board (SAB) has published its annual report for 2020/21 suggesting that investment returns are “holding up well”.
Net return on investment was +21%, which it said was reflective of market conditions during the year. “Despite short-term volatility, long-term performance remains strong,” it suggested.
Roger Phillips, chair of the SAB, launched the report at the Pensions and Lifetime Savings Association’s local authority conference.
He said: “This latest report, covering the year up to 31 March 2021, demonstrates the continuing strength of the scheme, with investment returns holding up well against a challenging financial environment and the growth in scheme membership continuing to afford protection against the effects of a maturing pension scheme.”
Total membership of the LGPS grew by 66,624 (1.08%) to 6.2m members. The total number of employers with active contributing members was 14,448, up from 14,253 in 2020.
The report aggregates information supplied in the 86 fund annual reports. It demonstrates that total assets reached £342bn, an increase of +24%.
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