UK pensions law requires those charged with the governance of occupational pension schemes and pension funds to take professional advice in respect of their fiduciary duties towards beneficiaries.  

Fund Advisors

A summary of the advisors reported by funds in their annual report is below. 

Fund custodian  

Custodian	Proportion of LGPS Funds
BNY	11%
Caceis	1%
HSBC	2%
JP Morgan	7%
No custodian	1%
Northern Trust	62%
State Street	15%

Fund actuary

Actuary	Proportion of LGPS Funds
Aon	11%
Barnett Waddingham	22%
Hymans Robertson	53%
Mercer	14%

Legal advisors

Funds reported using the following firms for legal advice: Eversheds Sutherland, Osborne Clarke, South London Legal Partnership, Burges Salmon, Pinsent Masons, Squire Patton Boggs, Dolmans, Nabarro LLP, Freeth Cartwright LLP, Sacker & Partners, Browne Jacobson, Addleshaw Goddard, HB Public Law, Capsticks LLP, Anthony Collins, DCC Legal, Trowers and Hamlins and Invicta Law. 

Some funds use in-house legal teams. 

Report pages

• Chair’s Statement 
• Highlights
• Governance and Training 
• Financial Performance
• Membership
• Fund Accounts and Net Asset Statements 
• Investments and Funding 
• Administration  
• Scheme Advisors 
• Auditor Statements