Cumbria Pension Fund – Consultation on Investment Strategy Statement

Overview

Cumbria Pension Fund is launching a consultation on its draft Investment Strategy Statement (ISS) and revised Responsible Investing (RI) policy.

This survey asks for your views on the Investment Strategy Statement (ISS), which sets out how the pension fund invests its money, and its Responsible Investment (RI) Policy which governs its approach to RI and stewardship. You can read the full documents here:

Investment Strategy Statement

Cumbria Pension Fund - Responsible Investment Policy

The Investment Strategy Statement (ISS) outlines how the investment risk and return issues are managed relative to the Fund’s investment objectives. Following the 2025 Actuarial Valuation, the Cumbria Pensions Committee have taken investment consultancy advice and reviewed the ISS and RI Policy. LGPS funds must publish an ISS under the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2026, consult with the LGPS Board, employers, members and stakeholders, and keep it under regular review.

Your response will not affect the pension benefits members receive, and we may not be able to act on all feedback.

If you have any queries about this consultation, or need this Response Form in another language or format, please contact Cumbria Pension Fund by emailing pensions@westmorlandandfurness.gov.uk

This consultation will close at 17:00 Friday 14th August 2026.

Background

Cumbria Pension Fund (“the Fund”) manages the pension assets of the Local Government Pension Scheme (LGPS). Part of this responsibility is consulting stakeholders on the Fund’s Investment Strategy Statement (ISS).

Stakeholders are invited to have their say on the priorities for the Fund over the coming years, such as the types of assets that the Fund holds, and how responsible investment factors influence investment choices.

The ISS sets out how money that has been received from scheme members’ and employers’ contributions will be invested. The value of those investments do not affect the value of pension benefits – these are guaranteed as the LGPS is a Defined Benefit scheme.

The LPGS is a ‘funded’ pension scheme – scheme members’ and employers’ contributions are invested so that money is available to pay pensions benefits.