Scheme information

The Environment Agency Pension Fund (EAPF) is part of the Local Government Pension Scheme (LGPS), and is the pension fund of one of the world’s leading environmental organisations. ? 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 working for other types of employer participating in the scheme. The LGPS in England and Wales is administered locally through 90 local pension funds.

LGPS rules

The scheme regulations were made under the Superannuation Act 1972 and in the future will be made under the Public Service Pension Schemes Act 2013. Changes to scheme rules are discussed at national level by employee and employer representatives but can only be amended with the approval of Parliament. Your pension fund must keep you informed of any changes that are made.

The LGPS is a registered public service pension scheme under Chapter 2 of Part 4 of the Finance Act 2004. It achieved automatic registration by virtue of Part 1 of Schedule 36 of that Act (because the scheme was, immediately before 6 April 2006, both a retirement benefits scheme approved under Chapter I of Part XIV of the Income and Corporation Taxes Act 1988 and a relevant statutory scheme under section 611A of that Act). This means, for example, that you receive tax relief on your contributions. It complies with the relevant provisions of the Pension Schemes Act 1993, the Pensions Act 1995 and the Pensions Act 2004.

The LGPS meets the government's standards under the automatic enrolment provisions of the Pensions Act 2008.

Governance

From April 2015, your administering authority must establish and operate a Local Pension Board. The Pension Board is responsible for assisting the administering authority in securing compliance with the LGPS regulations, overriding legislation and guidance from the Pensions Regulator. The Board is made up of equal representation from employer and member representatives.

We’re responsible for administering the current and future pension benefits of just under 40,000 members, of which 11,000 are contributing to the Scheme. We’ve a 96% participation rate of our employees in the Scheme.

As a scheme member, you pay contributions to the LGPS. Your employer currently pays in the balance of the cost of providing your benefits after taking into account investment returns. Every three years, an independent actuary calculates how much your employer should contribute to the Scheme.

The most recent triennial valuation of our Active Fund on 31 March 2016 shows £3.5 billion assets under management and an overall funding level of 103%. The EAPF remains one of the best funded in the LGPS.

Your benefits are guaranteed by the Scheme.

There are currently three employers participating in the Fund:

  • Environment Agency
  • Natural Resources Wales
  • Shared Services Connected Limited

A Pension Committee provides strategic direction and regular oversight, and we have a Pension Board who help to provide governance and compliance with regulations.

The day to day administration is provided through our third party administrator, Capita. The administrators provide specialist knowledge and technical advice, in addition to data gathering and complex calculations on member records.

See our latest Scheme guide at www.eapf.org.uk/publications.

To view our latest forms visit our website www.eapf.org.uk/forms.