London Borough of Croydon Pension Fund

What London Borough of Croydon Pension Fund does

The London Borough of Croydon Pension Fund is the local administering authority for the statutory Local Government Pension Scheme (LGPS) covering Croydon Council employees, support staff in local schools, staff at outsourced companies admitted as Admitted Bodies, and staff at participating colleges and academies in the London Borough of Croydon. The fund transitioned from a final pay scheme to a Career Average Revalued Earnings (CARE) design in 2014 and is governed by the Croydon Pension Committee, which acts as trustees, together with the Local Pension Board, with external actuarial and governance advice from Hymans Robertson LLP and investment advisory from Mercer. Benefits are defined by statute and guaranteed by government regulations; pensions are revalued annually in line with inflation and are not exposed to investment market fluctuations on the member side.

Member participation operates through payroll-deducted contributions at tiered rates from 5.5% to 12.5% of pensionable pay depending on the member's pay band, with part-time staff contributing only on actual pay. The product surface comprises the core LGPS benefit accrual, a 50/50 Section that halves both contributions and accrual while preserving full survivor and death-in-service cover, Additional Voluntary Contributions (AVCs) invested via external providers, flexible retirement from age 55 while still working, tiered ill-health retirement, and survivor benefits for spouses, civil partners, cohabiting partners, and eligible children. The McCloud Remedy/Underpin protection ensures members receive the better of CARE or final pay benefits for the transitional period April 2014 to March 2022 to address age discrimination findings.

Members access account information and annual benefit statements through the Member Self-Service portal at croydon.mypensiondetails.co.uk, supported by an LGA-hosted CARE scheme calculator for modelling additional pension purchases. Distribution is principally employer-driven auto-enrolment for staff on contracts of three months or more. The fund is not a commercial enterprise: it has no equity, no listed securities, and no traditional revenue line, with its obligations met through member and employer contributions and investment returns on the fund's assets. With effect from 11 May 2026, eligibility extends to councillors, elected mayors and deputy mayors, and London Assembly members, broadening the membership base while preserving the scheme's statutory character.

Name

London Borough of Croydon Pension Fund

Legal name

Croydon Council Pension Fund

Website

https://croydonpensionscheme.org

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

The London Borough of Croydon Pension Fund administers the local constituent of the national Local Government Pension Scheme, providing statutory defined benefit CARE pensions to Croydon Council employees, school support staff, admitted body staff, and colleges and academies in Croydon.

Ownership category

akta.pro rank

Product category

Public Sector Occupational Pension Scheme

NAICS

Pension Funds (525110), Pension Funds (52511)

akta.pro primary industry

Pensions & Retirement Benefits Administration (BPAIAKAA)

akta.pro secondary industry

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

Keywords

• Defined benefit pension
• Local government pension scheme
• Statutory pension benefits
• Career average pension
• Occupational pension administration

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Pricing tiers

Distribution channels1 record

Marketing channels5 records

Core offering

The London Borough of Croydon Pension Fund administers the Local Government Pension Scheme (LGPS), a statutory defined benefit Career Average Revalued Earnings (CARE) pension scheme for local government employees in the Croydon area. It provides guaranteed retirement income, survivor benefits, ill-health retirement protection, and life cover, with contributions deducted from pensionable pay via participating employers.

Product overview

The London Borough of Croydon Pension Fund operates the Local Government Pension Scheme (LGPS), a statutory defined benefit CARE pension scheme administered by Croydon Council. The core offering is the LGPS itself, which provides guaranteed retirement income, survivor benefits, and life cover. Members access their accounts through the Member Self-Service Portal. Key supplementary options include the 50/50 Section (reduced contributions), Additional Voluntary Contributions (AVCs), Flexible Retirement, Ill Health Retirement, and Survivor Benefits. Underpin Protection / McCloud Remedy addresses transitional protection for affected members. The scheme is supported by an LGA-provided CARE Calculator for modeling additional pension purchases.

Differentiator

Problem solved

Functional benefit

Products and services

• Local Government Pension Scheme (LGPS)
• Member Self-Service Portal

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves5 records

Expansion highlights4 records

Direct peers

• Greater Manchester Pension Fund: One of the largest LGPS administering authorities in England, covering Greater Manchester's local authority employees. Direct peer through identical statutory framework; larger scale illustrates the upper bound of what an LGPS fund can achieve via pooling arrangements.
• London Borough of Hackney Pension Fund: LGPS fund administered by Hackney Council for its own staff and outsourced Admitted Bodies. Closely comparable to Croydon in scale, member mix, and statutory scheme obligations, making it a near-perfect structural twin.
• Strathclyde Pension Fund: Scotland's largest LGPS fund administered by Glasgow City Council on behalf of multiple Scottish local authorities. Direct peer through the LGPS family of statutory defined benefit schemes, demonstrating the pooling model that English LGPS funds including Croydon could evolve toward.
• Merseyside Pension Fund: LGPS administering authority covering Merseyside councils. Comparable as another multi-employer LGPS fund operating under the same statutory framework with a similar defined benefit CARE scheme structure.
• West Yorkshire Pension Fund: Major LGPS administering authority serving West Yorkshire councils and Admitted Bodies. Direct peer under the same statutory LGPS regulations, offering a comparable product set including AVCs, survivor benefits, and a member self-service portal.
• London Borough of Lambeth Pension Fund: Another London borough-administered LGPS fund covering Lambeth Council staff and Admitted Bodies. Direct peer because it operates the same statutory LGPS framework, the same CARE scheme design, and the same auto-enrolment mechanics, differing only in geography within London.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/london-borough-of-croydon-pension-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about London Borough of Croydon Pension Fund