Falkirk Council Pension Fund

What Falkirk Council Pension Fund does

Falkirk Council Pension Fund is a statutory public sector occupational pension scheme administered by Falkirk Council as the administering authority under the Local Government Pension Scheme (LGPS) Regulations and the Public Service Pensions Act 2013. It provides defined benefit, Career Average Revalued Earnings (CARE) pension arrangements to employees of Clackmannanshire Council, Falkirk Council, Stirling Council, the Scottish Environment Protection Agency, the Scottish Children's Reporter Administration, and approximately 30 other public or charitable bodies in central Scotland, as well as to elected councillors of the three councils. The scheme transitioned from a final salary structure to CARE on 1 April 2015 and implemented the McCloud Remedy effective 1 October 2023.

Member benefits are guaranteed by statute and include index-linked pensions, survivor benefits, a death grant of three times annual pensionable pay for active members, ill-health retirement protection, and tax relief on contributions. Member contribution rates range from 5.5% to 12% of pensionable pay depending on pay band (5.5% up to £29,338; 11.2% at £353,883 and above for 2026/27), deducted monthly through employer payroll. Distribution occurs exclusively through participating employer payroll enrollment; the Fund operates no commercial sales motion.

The Fund's digital infrastructure consists of a website (falkirkpensionfund.org) operated by Hymans Robertson LLP, a member self-service portal, annual benefit statements, and pre-retirement seminars. Hermes Eos provides voting and engagement services for stewardship of investee companies. The Fund is held in trust for members and dependents, with no external investors, no equity instruments, and no commercial revenue.

Name

Falkirk Council Pension Fund

Legal name

Falkirk Council Pension Fund

Website

https://falkirkpensionfund.org

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Falkirk Council Pension Fund administers the statutory LGPS defined benefit (CARE) pension scheme for employees of Falkirk, Clackmannanshire, and Stirling Councils, plus SEPA, SCRA, and approximately 30 other central Scotland public and charitable bodies.

Ownership category

akta.pro rank

Product category

Public Sector Pensions

NAICS

Pension Funds (525110), Pension Funds (52511), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Services-Social Services (8300)

akta.pro primary industry

Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA)

akta.pro secondary industries

Pensions & Retirement Benefits Administration (BPAIAKAA), Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB), Pensions, Benefits & Retirement Disbursements (FSAMAKAI), State/Provincial Human Services & Benefits Administration (Welfare, Disability, Child & Family) (BPAIABAI)

Keywords

• Public sector pensions
• Defined benefit scheme
• Local government pensions
• Pension fund administration
• LGPS scheme

Headquarters

HQ city

Falkirk

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Pricing tiers

Distribution channels1 record

Marketing channels4 records

Core offering

The Falkirk Council Pension Fund administers the Local Government Pension Scheme (LGPS) for central Scotland, providing a statutory defined benefit (CARE) pension scheme to employees of Falkirk Council, Clackmannanshire Council, Stirling Council, SEPA, SCRA, and around 30 other public or charitable bodies. Core services include retirement pension accrual and payment, survivor and dependant pensions, ill health retirement, death grants, tax-free lump sum options, and index-linked annual pension increases, with members accessing the scheme via employer payroll deductions and a self-service web portal.

Product overview

Falkirk Council Pension Fund operates the Local Government Pension Scheme (LGPS) for central Scotland, providing defined benefit pension administration services to public sector employees. The scheme offers retirement benefits, contribution management, survivor benefits, and pensioner services through its website and member self-service portal. No formal product/module architecture or named product portfolio is described in the source material.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Pensions cannot decrease once in payment - in the rare case of deflation, pension remains unchanged
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered supporting and core.

• Hermes EossupportingTechnology or IntegrationThe Fund has appointed Hermes Eos as its voting and engagement provider to ensure that the behaviour of investee companies is aligned with the Fund's investment beliefs and consistent with long-term responsible ownership. This supports the Fund's stewardship activities and responsible investment approach.
• Hymans Robertson LLPcoreTechnology or IntegrationThe website www.falkirkpensionfund.org is operated by Hymans Robertson LLP, a limited liability partnership registered in England and Wales. They provide the technical platform and website management services for the Pension Fund.

Recent moves5 records

Expansion highlights4 records

Direct peers

• West Yorkshire Pension Fund: Large English LGPS fund administered by Bradford Council. Provides LGPS defined benefit pensions to local government and admitted bodies in West Yorkshire, with a closely overlapping member profile and benefit structure.
• Border to Coast Pensions Partnership: LGPS asset pooling vehicle serving multiple English LGPS funds. Comparable as an LGPS-aligned pooling entity that could eventually extend to Scottish funds, offering investment scale benefits relevant to Falkirk's long-term operating model.
• Strathclyde Pension Fund: The largest LGPS fund in Scotland, administered by Glasgow City Council. Directly comparable as a Scottish LGPS administering authority serving multiple councils and public bodies with a defined benefit structure, sharing the same regulatory framework as Falkirk.
• Tayside Pension Fund: Scottish LGPS fund administered by Dundee City Council covering Tayside councils. Comparable in size and structure to Falkirk, providing LGPS benefits to local government employees in a similar regional Scottish footprint.
• Lothian Pension Fund: Mid-sized Scottish LGPS fund administered by the City of Edinburgh Council. Provides the same LGPS defined benefit pension scheme to local government employees in the Lothian region, with a closely aligned operating model.
• Greater Manchester Pension Fund: One of the largest English LGPS funds, administered by Tameside MBC. Operates the same LGPS defined benefit framework as Falkirk, with comparable multi-employer, multi-council structure and statutory governance.
• Merseyside Pension Fund: English LGPS fund administered by Wirral Council. Operates the same LGPS statutory framework as Falkirk with a comparable multi-employer membership of councils and public bodies.

Broad incumbents

• Teachers' Pension Scheme: UK-wide statutory DB pension scheme for teachers and education staff. Comparable as a public sector, statutory-backed DB scheme, though it serves a different occupational group and operates under separate (non-LGPS) regulations.
• NHS Pension Scheme: UK-wide statutory DB pension scheme for NHS staff. Comparable as a public sector DB scheme with similar statutory protections, automatic enrollment, and defined benefit structure, but is a separate scheme outside the LGPS framework.

Emerging players

• National Employment Savings Trust (NEST): UK workplace pension scheme established under the Pensions Act 2008 to support automatic enrollment. Comparable as a UK workplace pension provider, but operates as a defined contribution scheme rather than LGPS-style DB.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/falkirk-council-pension-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Falkirk Council Pension Fund