Scheme Advisors
UK pensions law requires those charged with the governance of occupational pension schemes and pension funds to take professional advice in respect of their fiduciary duties towards beneficiaries.
Fund Advisors
During 2022/23 LGPS administering authorities have received advice from a range of specialist external advisors including the following:
Administration* – LPPA, Capita, Civica, Equiniti, Liberata, Heywood, Hampshire Pension Services, Peninsula Pensions, West Yorkshire Pension Administration, Wandsworth Pensions Shared Services, and XPS Administration.
*Some funds use in-house administration.
Asset custody – Northern Trust, State Street, BNY Mellon, JP Morgan, HSBC, BNP Paribas, and Caceis.
|
Custodian |
Percent |
|
Northern Trust |
57.5% |
|
State Street |
16.3% |
|
BNY Mellon |
12.5% |
|
JP Morgan |
7.5% |
|
HSBC |
3.8% |
|
BNP Paribas |
1.3% |
|
Caceis |
1.3% |
Actuarial, and/or Benefits, and/or Investments - Hymans Robertson, Barnett Waddingham, Mercer, and Aon Hewitt.
|
Actuary |
Percent |
|
Aon Hewitt |
13.58% |
|
Barnett Waddingham |
23.46% |
|
Hymans Robertson |
48.15% |
|
Mercer |
14.81% |
Legal** – Eversheds Sutherland, Osborne Clarke, South London Legal Partnership, Burges Salmon, Pinsent Masons, Squire Patton Boggs, Pathfinder, Norfolk Public Law, City of London Corporation, Dolmans, Nabarro LLP, Freeth Cartwright LLP, Sacker & Partners, Browne Jacobson, Addleshaw Goddard, Mills & Reeve, Sackers and Partners, Bevan Brittan, HB Public Law, Ward Hadaway, Allen and Overy, Capsticks LLP, Clifford Chance, DAC Beachcroft LLP, DWF, MacFarlanes, Taylor Wessing, and Invicta Law.
**Some funds use in-house legal teams.
Other Advisors – Redington, Isio, Deloitte, MJ Hudson Allenbridge.