We are the largest LGPS fund and the eleventh biggest defined benefit pension fund in the UK.
We are run by Tameside Metropolitan Borough Council and based in the north west of England.
Our job is to look after the LGPS pensions of all those who pay into GMPF, or who have paid in at some point in the past. We do this by following the LGPS regulations and other related laws. We calculate and pay benefits and invest the money we receive in contributions.
We look after over 375,000 pensions and pay over £750 million of benefits each year.
Pension benefits are enjoyed by people who work for the ten local authorities in Greater Manchester and other organisations such as the National Probation Service, academy schools and housing associations.
The LGPS is one of the largest public sector pension schemes in the UK.
It is a nationwide pension scheme for people working in local government or for other employers who take part in the scheme.
The LGPS is a ‘defined benefit’ pension scheme. Defined benefit pension schemes pay out a secure income for life, with pensions being reviewed each year in line with general price rises.
The employee and their employer both pay into the pension scheme.
What are GMPF’s values?
These eight values are the most important to us:
Being focused on our stakeholders’ needs and providing excellent customer service
Fulfilling our statutory responsibilities
Working well with others and capturing the benefits of teamwork
Encouraging good pension provision amongst our members and wider, and contributing to debate and decision-making in the wider pensions landscape
Demonstrating value for money, continually learning and looking to improve
Being prudent in our decision making and taking a long term view
Having good governance and clear lines of accountability
Being able to demonstrate that we are an open, transparent and trustworthy organisation