The Fund's Additional Voluntary Contributions (AVC) providers are Scottish Widows and Utmost. The table below shows information about these separately invested AVCs. The AVC providers secure benefits on a money purchase basis for those members electing to pay AVCs. Members of the AVC schemes each receive an annual statement confirming the amounts held in their account and the movements in the year.
| Contributions | Market Value | Contributions | Market Value | |
|---|---|---|---|---|
| Provider | 31 March 2025£000's | 31 March 2025£000's | 31 March 2026£000's | 31 March 2026£000's |
| Scottish Widows (31 March 2026) | 57 | 634 | 177 | 991 |
| Utmost (31 October 2025) | - | 221 | - | 187 |
| Total | 57 | 855 | 177 | 1,178 |
The Fund is administered by the London Borough of Ealing (the council). In 2025/26, the council charged the Pension Fund £1.146m (£0.977m: 2024/25) for expenses incurred in administering the Fund. The council owed the Pension Fund £6.212m at 31 March 2026 (£1.345m at 31 March 2025). Through its administration of the Fund, the council has a related party interest with the Pension Fund.
The Fund owed the council £1.515m at 31 March 2026 (£1.522m as at 31 March 2025).
Members of the Panel and Board are required to declare interests at every meeting. In the year, five members (4 Board members and 1 PFP member) were scheme members during the year, compared with two in 2024/25.
The council is the largest employer participating in the Fund and contributed £54.392m to the Fund during 2025/26 (£50.782m in 2024/25). At 31 March 2026, £4.660m was outstanding in respect of contributions due from the council; there were no outstanding contributions at 31 March 2025.
The Fund holds a minority shareholding in the London CIV Asset Pool (LCIV), with shares valued at £0.220m as at 31 March 2026 included within the net assets statement. A proportion of the Fund's investment portfolio is managed by the LCIV, as disclosed in Note 12.
Key management personnel for the Fund include Members of the Pension Fund Panel and Pension Board, together with the Strategic Director of Resources. There was no