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Scottish councils plan merger of bus driver pension schemes

Jan 16, 2019 - Investment & Pensions Europe

Two Scottish local authority pension funds are preparing to merge legacy transport schemes in an attempt to efficiently manage an eventual run-off.

Strathclyde Pension Fund - part of Scotland's Local Government Pension Scheme (LGPS) - has proposed merging its £206.9m (EUR230m) No.3 Fund section with the £100.1m Aberdeen City Council Transport Fund, part of the North East Scotland Pension Fund (NESPF).

Both funds cater for employees of FirstGroup - a private company that operates bu...