JLT launches LGPS asset pooling service

Benefit consultants JLT Employee Benefits and asset management consultants Alpha FMC are collaborating to launch a Local Government Pension Scheme (LGPS) asset pooling service.

The asset pooling service has a modular structure, so LGPS members can choose from nine functions, which include asset structuring, fund selection, FCA approval, recruitment, technology and IT. The collaboration is being led by JLT Employee Benefits senior consultant, Andrien Meyers, formerly at Lambeth Pension Scheme and a participant in setting up the London CIV, and Jon Benson, director and head of pensions at Alpha FMC. Meyers commented: “LGPS members face a monumental task and, given the unprecedented nature of this vast undertaking, few people have the experience to complete the pooling process with confidence. To complement LGPS’s existing capabilities, we are uniquely placed to bring our expertise to bear through this integrated offering. We have already met with the majority of the pools and this solution has attracted a considerable amount of interest.” Benson added: “We are excited to have the opportunity to work alongside JLT and support the pension pools in any way we can to help develop the efficient and compliant operating models to which they clearly aspire.”