The Royal Borough of Kensington & Chelsea Pension Fund is part of the national Local Government Pension Scheme (LGPS).
The Royal Borough of Kensington & Chelsea (RBKC) is responsible for managing the fund and is known as the 'administering authority'.
Members of the fund comprise employees and ex-employees of the Council. In addition, the fund also has over 20 participating 'admitted body' employers including employees and ex-employees of academy schools and certain private companies that provide services on behalf of the Council.
The fund has over 10,400 current, deferred and pensioner members and its assets currently exceed £800 million.
The LGPS is a statutory scheme. This means that it is very secure because the amount members are paid in retirement is defined and set out in law. Teachers have their own national pension scheme and some Public Health staff retain access to the national NHS pension scheme.