Wales Pension Fund

About Us

The Wales Pension Partnership (WPP) was established in 2017. The WPP is a collaboration of the eight LGPS funds (Constituent Authorities) covering the whole of Wales and is one of eight national Local Government Pension pools.

We have a long, successful history of collaboration, including examples that pre-date the Government’s pooling initiative. We are proud of our unique identity as a Pool – our Constituent Authorities represent and span the entirety of Wales. Being democratically accountable means we provide the best of strong public sector governance and transparency.

Our operating model is designed to be flexible and deliver value for money. We appointed an external Operator and make use of external advisers to bring best of breed expertise to support the running of the Pool. The Operator is Waystone Management (UK) Limited and they have partnered with Russell Investments to manage the investments and assist in the reduction of investment management costs for all the Constituent Authorities.

We have a clear vision and are in control of the pace we take to ensure we meet our goals.

Latest Notices

Latest News

Friday 01 August 2025

WPP Investment Management Company

All eight Constituent Authorities have now provided full approval to progress the build of WPP Investment Management Company (IM Co), including its submission to the FCA to obtain formal authorisation.

The Government launched its Local Government Pension Scheme (LGPS) Fit for The Future Consultation on 14th November 2024, outlining a range of proposals to strengthen the management of LGPS investments in 3 key areas:

1. Reforming the LGPS asset pools,

2. Boosting LGPS investment in their localities and regions in the UK,

3. Strengthening the governance of both LGPS Administering Authorities and LGPS pools

As part of the consultation, the government asked each pool to consider and provide submissions outlining the viability of meeting the timescale of 31 March 2026 and each pool was invited to demonstrate a clear path to meeting the requirements outlined in the consultation document.

The WPP submitted a Business Case to Government at the end of February 2025, to make a case for continuing as a Welsh Pool and, therefore, continuing to realise the benefits the Pool brings to Wales. This was approved by Government in April 2025.

WPP proposes to establish a stand-alone Financial Conduct Authority (“FCA”) authorised investment management company (“IM Co”) in line with Government criteria and to move all WPP assets into IM Co management in line with the timescales outlined. The decision to build a WPP IM Co offers a unique opportunity to establish a material centre of excellence in LGPS investment in Wales creating valuable career opportunities whilst enhancing the financial services sector in Wales.

All eight Constituent Authorities fully support the formation of IM Co and work is now progressing to build the company, including the preparation of the FCA submission.

The full Business Case and Fit for the Future submission can be found on the WPP website - Wales Pension Partnership website

Wales Pension Partnership re-appoints Hymans Robertson as its Oversight Advisor

The Wales Pension Partnership (‘WPP’) is pleased to announce the re-appointment of Hymans Robertson (Hymans), as WPP’s Oversight Advisor. Hymans were re-appointed following the completion of a comprehensive procurement exercise. Hymans’ contract commenced on 1 January 2025 and will run for an initial period of 5 years with the option to extend for a further 2 years.