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The Local Government Pension Scheme (LGPS) is one of the largest public sector pension schemes in the United Kingdom, with 6.4 million members from 15,000 employers. It is a defined benefit pension plan. Administration is carried out through 89 regional pension funds such as Greater Manchester Pension Fund and London Pensions Fund Authority.
Many U.S. cities are allowed to participate in the pension plans of their states; some of the largest have their own pension plans. The total number of local government employees in the United States as of 2020 is 14.3 million. There are 11.1 million full-time and 3.1 million part-time local-government civilian employees as of 2020.
This list of largest pension funds in the United States involves two main groups: government pension funds for public employees and collectively bargained pension funds, jointly managed between employer and employee representatives after the Taft-Hartley Act of 1947.
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LPP was established to enable public sector schemes to pool resources and improve management of their assets for the benefit of their members and employers. It is open to all members of the Local Government Pension Scheme and public sector funds in the UK. It had £22.8bn of assets under management in June 2022 [4] and according to its ...
The London Pensions Fund Authority ( LPFA) is a leading local government pension fund. It was formed in 1989 to fill the gap left by the 1986 dissolution of the Greater London Council (GLC) in administering that body's Pension Fund. It has taken on residual responsibilities for the employees of several other defunct organisations, including the ...
The Scottish Public Pensions Agency ( Scottish Gaelic: Peinnseanan Poblach na h-Alba) is an executive agency of the Scottish Government. It is responsible for the administration and regulation of government pension schemes in Scotland. This includes the pension schemes of NHS Scotland and for Scotland's teachers.
Pensions in the United States. Average balances of retirement accounts, for households having such accounts, exceed median net worth across all age groups. For those 65 and over, 11.6% of retirement accounts have balances of at least $1 million, more than twice that of the $407,581 average (shown). Those 65 and over have a median net worth of ...