England and Wales local government pension funds reach £438 billion
Fund market value rose 8.8%, while scheme membership reached 6.93 million and annual retirements exceeded 116,000.
Event / data period: 2026-03
Published: · Updated:
Data published on 21 October by the Ministry of Housing, Communities and Local Government put the market value of Local Government Pension Scheme funds in England and Wales at £437.9 billion at the end of March 2026, up 8.8% year on year. In 2025-26, scheme income was £22.9 billion and expenditure was £20.0 billion.
The scheme had 6.93 million members at March 2026: 2.17 million contributing employees and 2.28 million pensioners. There were 116,115 retirements in 2025-26, up 4.8% from the previous year. The data were reported by all 87 administering authorities; Environment Agency funds are included in the combined England and Wales totals but excluded from some country-specific comparisons.
Data
Local government pension scheme summary
England and Wales, financial year 2025-26; membership is at March 2026 year-end.
| 437.9 | 8.8 | 22.9 | 20 | 6930000 | 116115 |
Methodology
Official statistics compiled from returns by all 87 administering authorities. Fund value is in GBP billions; income and expenditure are 2025-26 flows.
Updated:
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