About the Greater Gwent Pension Fund

The Greater Gwent (Torfaen) Pension Fund is part of the national Local Government Pension Scheme (LGPS)

If you join the fund you become a member and you will get a pension paid to you when you retire.

Members include people who work for Torfaen, Blaenau Gwent, and Caerphilly County Borough Councils, Monmouthshire County Council and Newport City Council, and a whole range of other organisations such as the local college, town and community councils who have applied to be part of the fund as well as other organisations who provide community services or carry out services on behalf of a local authority. More than 50 employers allow their employees to join the fund.

The LGPS is a statutory scheme. This means that it is very secure because the amount members are paid in retirement is defined and set out in law.

Teachers and operational staff in the police and fire and rescue service have their own pension schemes and are not part of Greater Gwent (Torfaen) Pension Fund.

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.

Who runs the pension fund?

The Greater Gwent (Torfaen) Pension Fund is run by Torfaen County Borough Council.

This means that Torfaen County Borough Council is the "administering authority" as defined in the Local Government Pension Scheme Regulations.

The Council has delegated responsibility for the management of the Pension Fund to a Pension Committee which makes decisions and takes responsibility for the management and investments of the Fund.

In addition the Council has established a Pension Board in accordance with the requirements of the Public Service Pensions Act. The role of the Pension Board is to assist in the good governance of the scheme through the monitoring of Fund performance and adherence to statutory duties. The Pensions Board is not a decision-making body - its role is to assist the Administering Authority in the compliance with scheme rules.

Administering authorities are required to act in the interests of all employers, members and their dependants within the fund. The role of the administering authority is very similar to that of a trustee.

The Pensions Team at Torfaen County Borough Council look after the day to day running of the fund.

Pensions Manager: Joanne Griffiths