Unaudited Annual Report and Accounts published

This week saw the publication of our 2020/2021 Unaudited Annual Report and Accounts.

This week saw the publication of our 2020/2021 Unaudited Annual Report and Accounts. This year we've concentrated on the things most important to us: our members and our people. Our Chief Executive Officer Doug Heron explains:

“Our vision and purpose are to deliver a valued retirement savings product for our members; all of whom serve or have served the public. In our active membership we have 1011 cleaners, 412 support workers, 1244 early years practitioners, 447 cooks, 253 customer service representatives and 262 facilities managers and assistants.

“We’re incredibly proud of our members’ work and contribution to their communities and we’re working hard to provide them with a secure retirement. During the year we paid £194.3m (19/20: £185.8m) in pension benefits to 33,915 beneficiaries of the Fund, responded to 33,938 enquiries, welcomed 3,910 new members and helped 1,519 members move into retirement. All while working from home.”

Doug also talks about how LPF have worked hard to support our members, employers and tenants through the pandemic, and the successes we've had in relation to this:

“COVID-19 brought many challenges for our members, employers and tenants and we’ve done everything we can to help and support them through these difficult times. As a commercial property portfolio owner, we’ve faced many new and challenging headwinds to safeguard the prospects of the portfolio beyond the current crisis. We’ve been working hard to support our tenants who have been negatively impacted by the pandemic and manage the response to COVID-19 in our commercial property.

“We’re incredibly proud that a number of our portfolio companies have been at the forefront of developing the COVID-19 vaccine, and with the vaccine roll out well underway, it’s possible to start looking forward to what 2021 and beyond will bring.

“In February of this year, we added the Titan warehouse, one of the largest modern industrial buildings in Scotland, to our asset portfolio. Titan is let to the Scottish Ministers (NHS) until 2031 and plays a crucial role in the distribution of PPE across the UK.”

You can read more here: https://www.lpf.org.uk/annualreport.

Published: 1st July 2021