# Leicester, Leicestershire & Rutland Combined Fire Authority (LFRA)

Leicester, Leicestershire & Rutland Combined Fire Authority (LFRA) is a Pension Fund based in Leicester, United Kingdom.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Leicester, United Kingdom
- **Region:** Europe
- **Address:** 12 Geoff Monk Way, Birstall, Leicester, LE4 3BU, United Kingdom
- **Founded:** 1997
- **Assets under management:** Undisclosed
- **Website:** leics-fire.gov.uk

## Regulatory record

- **Reports private funds:** No

## About

The Leicester, Leicestershire & Rutland Combined Fire Authority was created in 1997 under the Fire Services Act to merge the separate brigades of Leicester City, Leicestershire, and Rutland. Callum Faint serves as the statutory Chief Fire Officer and accounting officer, responsible for operational delivery across 20 fire stations and the authority's financial obligations. Funding comes via annual precepts on the council tax collected by its three constituent local authorities, a portion of which flows directly into employer pension contributions. LFRA is a scheduled body within the Local Government Pension Scheme, and its investment strategy is fully delegated to the Leicestershire County Council Pension Fund, a £6.5 billion LGPS pool managed internally by the county council. The pool allocates across equities, fixed income, private equity, infrastructure, and real estate, with an increasing tilt toward alternative assets in line with other UK public-sector funds. LFRA's contributions are commingled with those of hundreds of other employers, including academies, borough councils, and outsourced service providers, giving the fire authority no direct manager selection or co-investment rights. Callum Faint leads a uniformed officer team at the service headquarters in Birstall, but the pension investment function sits with Michael Hudson and the treasury and pensions team at Leicestershire County Council. The authority holds usable reserves to smooth operational shocks, but its long-term funded status depends on triennial actuarial valuations conducted by the LGPS scheme actuary. In recent years, UK fire authorities have grappled with rising pension costs driven by updated mortality assumptions and the employer contribution cap reset, pushing some to draw down reserves. Structurally, LFRA differs from a corporate pension sponsor because its funding comes from a statutory tax precept rather than a commercial revenue stream. This creates a rigid, politically constrained contribution base with no ability to increase employer top-ups beyond council tax referendum limits. While most LGPS pools are now consolidating into larger asset-management vehicles under the government's pooling agenda, LFRA's pension governance remains tied to the county council's pace, making its liability management slow-moving and subject to local political cycles.

## Questions

### How is LFRA's pension funded?

Pension contributions come from LFRA's annual budget, which is itself funded by council tax precepts levied across Leicester, Leicestershire, and Rutland. Employer contribution rates are set every three years by the LGPS scheme actuary following a formal valuation. There is no separate investment pot ring-fenced for LFRA — all assets are commingled within the £6.5 billion Leicestershire County Council Pension Fund pool (per the fund's annual report, 2024).

### Does LFRA have exposure to private markets?

Yes, but entirely indirectly. The Leicestershire County Council Pension Fund allocates to private equity, infrastructure, and real estate alongside public equities and fixed income. LFRA participates as a scheduled body with a proportionate share of those pooled assets. It does not make direct co-investments, commit to individual GP funds, or exercise any discretion over alternative asset selection.

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Last updated: 2026-06-03T20:00:00.000Z

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