Best Approach to Local Investment

This is a category for any fund and/or pool that is delivering a best-in-class for local development – one which aligns with the government’s Fit for the Future requirements. Entries can either focus on one or two really strong case studies, or a broader outline of a portfolio or investment philosophy.

You should address as many of the following as possible in your entry:

• Evidence of how your approach aligns with national and local government policies
• Innovative approaches to leveraging public-private partnerships or the mobilising of additional capital
• Evidence of active engagement with stakeholders
• How risk adjusted returns (either actual or projected) fit within the overall investment strategy
• Demonstration of a thoughtful, coherent strategy for deploying capital locally

Best Approach to Sustainable Investment

This award celebrates funds and/or pools leading the way in sustainable investment through innovative strategies, investment structures, or partnerships that create tangible ESG impact, and which deliver measurable positive environmental and social outcomes, all without compromising investment returns. Entries can be based on one or two cases studies, or across the wider investment portfolio.

You should address as many of the following as possible in your entry:

• Clear demonstration of how ESG factors are well integrated into investment decision-making
• Active leadership in ESG initiatives or collaboration with peers and stakeholders
• Use of robust metrics, data, and reporting frameworks to track and demonstrate ESG outcomes
• Effective use of partnerships (such as with local authorities, peers or external stakeholders) to enhance ESG outcomes
• Evidence that the investment approach delivers competitive risk-adjusted returns
• Clear monitoring of progress against stated sustainability and/or financial objectives

Diversity, Equity and Inclusion

This award recognises an organisation that has worked to drive positive change by embedding principles of diversity and inclusion in the culture of the organisation.

You should address as many of the following as possible in your entry:

• Provide specific examples of how an environment that supports inclusion has been created
• Provide examples of literature and/or communications with scheme members that have expressly supported diversity and inclusion
• Demonstrate how you have created equity
• Show how consideration of diversity and inclusion has resulted in positive change
• Demonstrate an approach that has shown consideration for the wellbeing and mental health of employees, both direct and indirect

Governance Innovation Award

Open to both funds and pools, this award recognises governance approaches that demonstrate innovation in strengthening outcomes for LGPS members. The winner will have shown how enhanced or forward-thinking governance processes ensure that all parties involved in management, including shared and external service providers, are aligned with long-term objectives. Emphasis will be placed on improved transparency and accountability, timely closure and filing of accounts, and effective identification, management and mitigation of risks.

You should address as many of the following as possible in your entry:

• The identification and implementation of enhanced or innovative governance processes to ensure that all parties are aligned with the long-term objectives of the fund
• Governance arrangements for shared and external services, including the fund/pool relationship, demonstrating effective oversight and accountability
• The management and mitigation of risks through robust and forward-looking governance structures
• How the Pension Board supports and strengthens governance, including effective scrutiny and assurance
• Assurances over the effectiveness of controls, including the role of internal audit
• Where available, submission of the fund or pool’s governance policy

Investment Innovation Award

This award recognises the fund or pool that demonstrates exceptional innovation in investment strategy design and implementation, with a focus on productive and growth assets. This category covers both private and public markets, including infrastructure, real estate, private equity, private debt, impact investing, and other strategies, with particular emphasis on UK productive and growth assets.

You should address as many of the following as possible in your entry:

• The drivers behind the innovation, and the outcomes achieved or anticipated, particularly in relation to productive and growth asset investment
• How the innovation has helped - or will help - the fund deliver against its financial or non-financial objectives while supporting economic productivity and growth
• Where appropriate, evidence of how the innovation enhances the fund's capacity to invest effectively in UK productive and growth assets while meeting fiduciary duties and investment return targets

LGPS Fund of the Year (assets over £3.5 billion at 31 March 2026)

Criteria to be considered include, but are not limited to, the following: implementing best practice and leadership across pension fund operations, investment performance through effective long-term strategic asset allocation and thought leadership within LGPS.

You should address as many of the following as possible in your entry:

• Investment performance and strategic asset allocation, including assessment of how closely investment return achieved actuarial return targets, alongside indicators of risk/volatility of returns
• Demonstrate your long-term strategic asset allocation framework and how it positions the fund for sustainable returns across the breadth of asset classes
• Governance, including how governance structures support strategic asset allocation decisions and effective collaboration with your pool(s)
• Administration
• Collaboration and leadership within the LGPS, demonstrating how you work effectively with your pool(s) to deliver your strategic asset allocation objectives and create value for members. Show how this partnership supports access to the full breadth of investment opportunities
• How funding levels changed in the last year and why, including the role of strategic asset allocation decisions
• How you are responding to any pressures from employers on contribution levels while maintaining sound financial stability for your fund through robust strategic asset allocation and effective pool collaboration
• Judges will consider 1-, 3- and 5-year risk-adjusted returns, net, relative to target return to 31 March 2026

LGPS Fund of the Year (assets under £3.5 billion at 31 March 2026)

Criteria to be considered include, but are not limited to, the following: implementing best practice in pension fund operations, investment performance through effective long-term strategic asset allocation, and thought leadership within the LGPS.

You should address as many of the following as possible in your entry:

• Investment performance and strategic asset allocation, including an assessment of how closely investment return achieved actuarial return targets, alongside indicators of risk/volatility of returns
• Demonstrate your long-term strategic asset allocation framework and how it positions the fund for sustainable returns across the breadth of asset classes
• Governance, including how governance structures support strategic asset allocation decisions and effective collaboration with your pool(s)
• Administration
• Collaboration and leadership within the LGPS, demonstrating how you work effectively with your pool(s) to deliver your strategic asset allocation objectives and create value for members. Show how this partnership supports access to the full breadth of investment opportunities
• How funding levels have changed in the past year and why, including the role of strategic asset allocation decisions
• How you are responding to any pressures from employers on contribution levels while maintaining sound financial stability for your fund through robust strategic asset allocation and effective pool collaboration
• Judges will consider 1-, 3- and 5-year risk adjusted returns, net, relative to target return to 31 March 2026

LGPS Investment Strategy of the Year

Investment strategy is key to the success of the LGPS. The winner of this award will define how the goals and objectives of the investment strategy have been set, how well the strategy has been implemented, and the extent to which strategy goals have been achieved.

You should address as many of the following as possible in your entry:

• How objectives have been set and communicated
• Implementation of the investment strategy including use of pools
• Measurement of strategy objectives
• Achievement of goals against stated targets

Outstanding Contribution of the Year

An award recognising outstanding contribution to furthering the goals of the LGPS over the past year. Nominations can be made on behalf of an individual, a group effort, or an organisation.

Pensions Administration Award

The award considers initiatives to improve administration service quality and/or efficiency for organisations in the LGPS. This category is open to funds and pools that can demonstrate excellent or improved management of a standalone or shared service. External providers may also enter.

Judging criteria can include member support, member communication, data quality and management; and may include examples of administration changes in response to customer feedback.

You should address as many of the following as possible in your entry:

• Timely and accurate production of Report and Accounts – demonstrated by a good Audit Findings Report
• Member and employer support and communication, including member feedback via surveys or other forms of engagement
• Data quality and management
• Where available, include examples of administration changes implemented in response to changing circumstances or feedback from members, colleagues or other parties
• Diversity and inclusion
• Efficient use of resources, including the use of technology, knowledge management, and effective problem management for improved customer services and to help identify and resolve problems
• Include any performance indicators for member’s service

Pool Governance Award

This award recognises LGPS pools that have demonstrated strong, effective, and forward-looking governance practices. The winner will have shown how governance arrangements support alignment with long-term objectives and the priorities of partner funds. Entries can focus on governance in areas such as risk management, transparency, accountability, collaboration, reorganisation, innovation, or the embedding of governance across operational and investment decision-making.

You should address as many of the following as possible in your entry:

• Evidence of clear, effective structures and defined roles
• How governance arrangements identify, monitor, and mitigate key risks
• Introduction of new or enhanced approaches that strengthen oversight, decision-making or accountability
• Openness with partner funds and stakeholders, including communication of decisions and outcomes
• Evidence of active collaboration with partner funds, boards, or other key stakeholders
• How governance contributes to the pool’s sustainability, resilience, and alignment with strategic priorities

Pool of the Year

This award recognises an LGPS pool that has demonstrated exceptional leadership, progress, and performance over the past year. The winner will have shown how strategic change, reorganisation and/or transformation has strengthened the pool’s operating model and delivered clear benefits for partner funds and their members.

You should address as many of the following as possible in your entry:

• Evidence of clear direction and progress, showing how the pool has set priorities and driven improvements in pool operations
• Demonstration of major structural or operational change and how it was successfully implemented
• Evidence of tangible benefits, such as improved investment performance, efficiency or value for money
• How processes, capabilities, or the operating model have been strengthened to support long-term resilience
• Evidence of engagement, responsiveness, and effective partnership across the pool
• How the pool has been positioned for sustained success and contribution to LGPS objectives

Rising Star

This award recognises an LGPS officer, adviser or councillor who has joined the LGPS in the last 3 years and through their contributions in their role have shown that they have a strong future in the LGPS.