# Incorporated Council of Law Reporting for England and Wales Pension and Life Assurance Scheme (1975) Incorporated Council of Law Reporting for England and Wales Pension and Life Assurance Scheme (1975) is a Pension Fund based in London, United Kingdom. ## Overview - **Organization type:** Pension Fund - **Headquarters:** London, United Kingdom - **Region:** Europe - **Address:** 119 Chancery Lane, London WC2A 1PP, United Kingdom - **Founded:** 1975 - **Assets under management:** Undisclosed - **Website:** iclr.co.uk - **LinkedIn:** linkedin.com/company/incorporated-council-of-law-reporting-for-england-and-wales-iclr- ## Regulatory record - **Reports private funds:** No ## About The Incorporated Council of Law Reporting for England and Wales Pension and Life Assurance Scheme was established in 1975 to provide retirement benefits to the staff of the ICLR. The ICLR itself is a unique entity, founded in 1865 by the legal profession to produce the official, authoritative Law Reports that judges and barristers cite in court. The parent body is a registered charity and a company limited by guarantee, governed by a Council whose membership is nominated by the Law Society and the Bar Council. The Lord Chancellor is a statutory counterparty for the supply of legal publications. The scheme's investment strategy, reflecting its sponsoring employer's conservative and real-asset-heavy posture, is concentrated in direct UK property. Known holdings include the commercial freehold of Megarry House at 119 Chancery Lane, a prime Midtown legal-district address in London, and an industrial warehouse asset also in London. The fund operates a pooled investment portfolio alongside its direct properties. The scheme is a defined benefit arrangement, now closed to future accrual for many members, meaning its asset-liability management is focused on matching existing pensioner liabilities with income-generating bricks-and-mortar assets and other fixed-income holdings. The scheme is administered within the office of the Secretary and CEO, currently Kevin Laws, with oversight by the Council chaired by Richard Fleck CBE. Its size remains undisclosed to the public; the ICLR's total income was approximately £9.The parent organization belongs to the Publishers Association. The fund's operational proximity to the legal establishment — housed at the same Chancery Lane address where the ICLR edits and publishes the Weekly Law Reports — gives it an unusually concentrated London real estate footprint for a pension fund of its scale. The scheme's structural differentiator is its attachment to a statutory monopoly publisher. The ICLR's revenue is underwritten by the legal profession's reliance on its reports as the formally citable record of judicial decisions in England and Wales. This creates a counterparty risk profile tied not to market cycles but to the procedural machinery of the courts — a distinct form of economic insulation that shapes the pension fund's liability-driven, property-heavy investment stance. ## Sectors - Real Estate - Private Credit - Hedge Funds ## People - Richard Fleck — Chairman of the Council - Kevin Laws — Secretary and CEO ## Questions ### What is the relationship between the ICLR and its pension scheme? The scheme is the employer-sponsored defined benefit pension fund for the Incorporated Council of Law Reporting for England and Wales. The ICLR is the not-for-profit body that publishes the official Law Reports, a near-monopoly record of judicial decisions used by every judge and barrister in England and Wales. The pension fund is a separate legal trust with assets ring-fenced from the ICLR's publishing operations. ### Who governs the ICLR pension scheme? The scheme is governed by a trustee board with oversight from the ICLR's Council. The Council itself is chaired by Richard Fleck CBE and includes members nominated by the Law Society and the Bar Council, linking pension governance to the widest bodies of the English legal profession. ### What does the scheme's investment portfolio look like? The known portfolio is heavily weighted toward direct UK real estate. Key holdings include the freehold of Megarry House at 119 Chancery Lane in London's legal district and an industrial warehouse in London. The scheme also holds a pooled investment portfolio whose composition is not publicly disclosed. ### How does the ICLR generate the revenue that supports the pension scheme? The ICLR produces the official Law Reports — including the Appeal Cases, Queen's Bench, Chancery, and Family divisions — which barristers are ethically required to cite in court. This generates annual subscription and publication revenue. The ICLR's total income was approximately £9.8 million in the 2023 financial year, per its Charity Commission filings. ## Related profiles - [Hughes Electrical Ltd Pension & Life Assurance Scheme](https://altss.com/profile/hughes-electrical-ltd-pension-and-life-assurance-scheme) - [Institute of Marine Engineering, Science and Technology (IMarEST)](https://altss.com/profile/institute-of-marine-engineering-science-and-technology-imarest) --- Last updated: 2026-08-11T02:43:31.692Z Canonical page: https://altss.com/profile/incorporated-council-of-law-reporting-for-england-and-wales-incorporated-council Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology