Devon Pension Fund and Investments

Devon Fund Key Documents

Annual Report and Accounts

The Annual Report and Accounts sets out the activities of the Fund over the past year, the performance of the Fund, and the Fund’s statement of accounts. A leaflet with an abridged version is also made available for Pension Fund members. Copies of the Annual Report and Accounts for previous years can be found in the archive section.

Devon Pension Fund Annual Report 2019

Pension Fund Leaflet 2019

The Fund has made available details of all its holdings as at the end of the financial year, and at the last available quarter ends. Information on holdings at the end of previous financial years can be found in the archive section.

Holdings – 30 September 2019

Holdings – 31 December 2019

Holdings – 31 March 2020

Holdings – 30 June 2020

Investment Strategy Statement

The Investment Strategy Statement sets out the Devon Fund’s investment strategy including the Fund’s assessment of the suitability of particular types of investments, and the balance between asset classes, the approach to risk, the policy on stewardship and social, environmental and corporate governance considerations and the approach to pooling and the relationship with the Brunel Pension Partnership.

Investment Strategy Statement 2020-21

Funding Strategy Statement

The Funding Strategy Statement explains the funding objectives of the Fund. This includes how the costs of the benefits provided under the Local Government Pension Scheme (LGPS) are met though the Fund, the objectives in setting employer contribution rates and the funding strategy that is adopted to meet those objectives.

Funding Strategy Statement 2020

Communications Strategy Statement

The Communications Strategy Statement sets out the Fund’s policies on the provision of information and publicity about the Scheme to members, representatives of members and employing authorities. It sets out the format, frequency and method of distributing such information or publicity, other key organisations that we communicate with, our values in relation to communications, and the professional expertise available to the Fund.

Communications Policy 2018

Governance Policy and Compliance Statement

The Governance Policy sets out the governance arrangements for the Fund, including the make-up of the Investment and Pension Fund Committee, and an outline of the tasks delegated to the Committee and to the Fund’s officers. The Compliance Statement sets out an analysis of the Fund’s compliance with the latest guidance issued by the Secretary of State for Communities and Local Government.

Goverance Policy and Compliance Statement

Valuation Report

The Valuation report sets out the results of the latest actuarial valuation of the Fund as at 31 March  2019. It sets out the methods and assumptions used, and the results for both the Fund as a whole and individual employers.

March 2019 Valuation report

2018-19 Employer Contribution Rates

An up to date record of Employer Contribution Rates for 2018-19:

2018-19 EMPLOYER RATES (Employer Web Copy)

Pension Fund Risk Register

The Risk Register highlights the key risks in relation to the Devon Fund, the current processes in place to mitigate the risk, and the planned improvements in place to provide further assurance. This incorporates the risk register of both the Investments Team and Peninsula Pensions.

Devon Pension Fund Risk Register June 19

Administering Authority Discretions

The Local Government Pension Scheme regulations give some responsibilities and discretions to Devon County Council as the fund Administering Authority in the administration of the scheme.

Administering Authority Discretions