The Cambridgeshire and Northamptonshire Pension Funds, along with local government pension funds in Essex, Hertfordshire, Kent, East Sussex and West Sussex, have announced their intention to become a shareholder in the Border to Coast Pensions Partnership, one of the UK’s largest investment pools. This follows new government requirements for LGPS funds to be using Financial Conduct Authority (FCA) regulated asset pools. Government did not support plans for ACCESS, the funds’ current asset pool, to become an FCA-regulated investment management company.
The funds will be undertaking all governance steps required to become a member of the Border to Coast pool by 31 March 2026.
Councillor Geoffrey Seeff, of Cambridgeshire Pension Fund:
““In Cambridgeshire, evaluating and selecting a preferred pooling partner that aligns with our investment strategies and governance policies has been a complex process. It has been undertaken within a tight Government deadline and detailed negotiations to prepare for the transition from Access are continuing. I look forward to a successful conclusion in the early part of 2026 when we hope to be part of a strong alliance that will benefit all our employers, members and other beneficiaries.”
Councillor John Slope, of Northamptonshire Pension Fund:
“The Northamptonshire Pension Fund has undertaken a thorough and independent evaluation of its future pooling options, and we are confident that Border to Coast offers the right platform for delivering long-term value, transparency, and strategic alignment for our members. This decision reflects the work and commitment of our team, and we are pleased to move forward collaboratively, while ensuring that our Fund’s distinct needs remain at the forefront.”
Councillor Jeremy Hunt, of West Sussex Pension Fund commented on behalf of the 7 LGPS Funds:
“In response to the Government’s ‘Fit for the Future policy, each Authority has undertaken a comprehensive review to determine their most suitable future pooling partnership. Following this robust evaluation, 7 Funds Cambridgeshire, Northamptonshire, Essex, Hertfordshire, Kent, East Sussex and West Sussex have chosen to enter exclusive discussions with Border to Coast Pensions Partnership as their preferred future pooling partner. The Border to Coast Pensions Partnership offers a strong governance framework and a collaborative approach. Border to Coast’s proven track record gives us confidence in a smooth transition and continued excellence in service delivery. We would also like to thank colleagues across the LGPS community for the positive and constructive manner in which they have engaged with us throughout this process.”
Border to Coast Joint Committee Chair, George Jabbour:
“We’re really pleased that these funds have signalled their intent to work with us to form a new partnership, as they share our values of collaboration, with a focus on collaboration and open-mindedness. Together, we believe we can harness our collective strengths to make a difference for the LGPS.”
Border to Coast CEO, Rachel Elwell:
“We’re delighted to welcome 7 new Funds to Border to Coast, marking a significant milestone in the evolution of the LGPS pooling landscape. This decision to form a new partnership is reflective of our joint commitment to collaboration, innovation, and shared purpose. In coming together, we can build on the collective experience and capabilities of all Funds to not only strengthen our collective voice, but enhance our combined ability to deliver robust, sustainable, and cost-effective outcomes for Partner Funds.”
