The White Horse Federation
Consolidating academies into one LGPS Fund
01 Sep 2020
The White Horse Federation is a Multi Academy Trust of primary schools, secondary schools and special schools. Operating under four main hubs meant participation in four different Local Government Pension Scheme funds. White Horse were keen to reduce the administrative complexities of operating across different funds and only pay one single level of LGPS contribution rate.
The challenge
In May 2018 we were asked to look at the feasibility of White Horse consolidating all their academies into one LGPS fund.
Key drivers:
- to streamline their payroll processes and administration
- pay a single LGPS contribution rate
- to enable greater input into investment and funding strategies as a single larger employer within one fund
- ensure Ill Health Liability Insurance was available to all their academies
A successful result
Through good governance and effective decision making, the consolidation was fully achieved on 1 November 2019. This was a successful outcome for the White Horse Federation, who now have the benefit of reduced pensions related administration and better representation in funding related matters.
“I am delighted that this project has been so successful. The idea of consolidating our 4 LGPS funds was initiated following a Hymans Robertson briefing in 2018 in Birmingham. We worked closely with the team from Hymans Robertson, initially asking them to develop the feasibility study and establishing the factors to consider in proceeding with the consolidation. Following receipt of the report and the advice and guidance provided we took the decision to appoint Hymans Robertson to project manage the consolidation on our behalf. Their knowledge and professionalism throughout has been high and they have made the process of obtaining the Secretary of State direction and working with all the funds straightforward. All of the funds have also worked very well together and supported the project. The key drivers for this project were to improve administration, ensure ill health liability insurance was available to all academies, standardise contribution rates and for the WHF to have more input into the investment and repayment strategies. As a result, we have achieved the aims of the project on time, to budget and at a high standard.”Steve Brimfield, Director for People, The White Horse Federation
If you would like to understand the benefits or process involved in consolidating your academies into a single fund, or would like any further assistance with your LGPS participation, please get in touch.
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