Lancashire County Pension Fund is a local authority pension scheme. Contributions to the Fund come in via deduction from members' salaries and directly from employers. The payment of benefits paid from the Fund is managed by the Lancashire Pensions Service with benefits payable based on members' pay and the number of years of membership of the Fund. The Fund's accumulated contributions are invested and used to pay the benefits. These investments are managed the Pension Fund Committee. Pension Funds are the subject of strict reporting and governance rules. The annual report and the governance statements required by law are described briefly on this page with links through to the latest published documents.