LPFA meaning in Business ?

Answer:

What is London Pensions Fund Authority mean?

The London Pensions Fund Authority (LPFA) is a leading local government pension fund fund administrator. It 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).

In 2016 LPFA created the Local Pensions Partnership (LPP) in collaboration with Lancashire County Pension Fund to pool resources and improve management for the benefit of their members and employers. The LPP was set up to be open to other Local Government Pension Scheme and public sector funds in the UK.

As of June 2017, the LPFA itself had around £4.6 billion of assets under management on behalf of around 18,000 current employees and around 34,000 pensioners who mainly worked for the Greater London Council and Inner London Education Authority.

Throughout its existence as a well known public sector pension scheme, the LPFA has been a key figure in influencing the Local Government Pension Scheme for local government employees and others across the United Kingdom and is described by Bloomberg, as among "the world's biggest investors" It contributes to debates on issues related to the world economy and has a public commitment to responsible investment, In 2008, it was an active part of a major global coalition of large institutional investors highlighting concerns about the economic impacts of global climate change.

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