Bromley Council's Pension Fund is exploring opportunities to invest locally, aiming to boost economic growth and deliver social benefits within the borough. The move could see approximately £72 million invested locally, representing 5% of the fund's total market value of £1,447.8m as of 31 March 2025, according to report FSD25048.
The Bromley Council Local Pension Board convened on Tuesday, 4 November 2025, to deliberate on the potential for local investments to drive growth within the Bromley area.
The move aligns with the government's 'Fit for the Future' consultation, which encourages pension funds to collaborate with local authorities and regional mayors to identify and support local growth plans. The consultation stipulates that investment should be ‘broadly local or regional to the Administering Authority or pool’ and ‘should have some quantifiable external benefits to the area’, such as ‘economic growth, environmental benefits or positive social impacts’.
These benefits will form the criteria used to evaluate the success of local investments, ensuring they deliver tangible improvements to the borough beyond purely financial returns.
Collaboration with other London boroughs and pension funds is also anticipated, as the 'Fit for the Future' consultation includes a requirement for funds to work with local authorities, regional mayors and their strategic authorities to ensure collaboration on local growth plans.
At a meeting on 29 July 2025, the Local Pension Board heard that the new requirement around local investment would apply to 5% of total Fund assets with the London Mayor and Greater London Authority expected to play a role in identifying appropriate investment opportunities in the London region. At the time, the Chairperson asked about the recourse should Bromley be unsatisfied with LCIVs performance, and this had not yet been clarified by the Government.