# 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.

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- Publisher: Newsverum
- Section: Finance
- Country: United Kingdom
- Published: 2026-10-21T11:11:48+00:00
- Updated: 2026-10-21T11:11:48+00:00
- Event / data period: 2026-03
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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.

Methodology: Official statistics compiled from returns by all 87 administering authorities. Fund value is in GBP billions; income and expenditure are 2025-26 flows.

| Market value of funds | Annual change in market value | Annual income | Annual expenditure | Total members | Retirements |
|---|---|---|---|---|---|
| 437.9 | 8.8 | 22.9 | 20 | 6930000 | 116115 |

Sources: <https://www.gov.uk/government/statistics/local-government-pension-scheme-funds-for-england-and-wales-2025-to-2026/local-government-pension-scheme-funds-for-england-and-wales-2025-to-2026> · Download data: [JSON](https://newsverum.com/api/v1/articles/england-wales-local-government-pension-funds-value-2025-26/data/lgps-funds-income-membership-2025-26?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/england-wales-local-government-pension-funds-value-2025-26/data/lgps-funds-income-membership-2025-26?lang=en&format=csv)

## Sources

- [Ministry of Housing, Communities and Local Government](<https://www.gov.uk/government/statistics/local-government-pension-scheme-funds-for-england-and-wales-2025-to-2026/local-government-pension-scheme-funds-for-england-and-wales-2025-to-2026>) (Source checked: 2026-10-21; Published: 2026-10-21)

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