Founded 1989 | ||
The London Pensions Fund Authority is a pension fund administration that in addition to maintaining its own fund is a key figure in administering the Local Government Pension Scheme, for local government employees and others across the United Kingdom. According to Bloomberg, it is among "the world's biggest investors." Accordingly, it takes an active voice in issues related to world economy, as with a recent expression of concern in the economic impact of global climate change.
The authority was formed in 1989 to fill the gap left by the 1986 dissolution of the Greater London Council (GLC) in administering that body's Pension Fund. It has taken on residual responsibilities for the employees of several other defunct organisations, including the Inner London Education Authority (ILEA) and the London Residuary Body (LRB).