The Barking and Dagenham Pension Fund has admitted five new bodies without requiring a bond, a decision approved by the Pensions Committee on 26 March 2026. This approach was taken due to the small number of employees associated with these new entities.
The five admitted bodies are Alliance Partnership, Innovate, Taylor Shaw, Nourish, and Edwards and Ward. These organisations will now contribute to the Local Government Pension Scheme (LGPS) for their employees.
Reasons for Bond Waiver
The waiver of the bond requirement was specifically due to the low number of employees within each of these organisations. Alliance Partnership has four employees, Innovate also has four, Taylor Shaw has one, Nourish has two, and Edwards and Ward has one employee. This collective low employee count justified the decision to forgo the bond requirement.
Admission Process
Typically, new bodies are admitted to the Barking and Dagenham Pension Fund as a result of employee transfers from existing employers. A bond may be required in accordance with Schedule 2 Part 3 of the Regulations, if deemed necessary by the letting authority and Administering Authority. However, as demonstrated with these five new entities, the waiver of this requirement is possible when the number of employees involved is small, mitigating potential risks.
The decision was made during a Pensions Committee meeting on 26 March 2026. Further details on the fund's financial position and projections can be found in the Public reports pack.
