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Governance

How the Fund operates

The City of Wolverhampton Council is the administering authority for the West Midlands Pension Fund under the Local Government Pension Scheme (LGPS). The LGPS is established by statute and its purpose is to provide death and retirement benefits for all eligible employees.

The Fund is not a legal body in its own right, and all contracts and assets are held in the name of the City of Wolverhampton Council who became the administering authority under the Local Government Act 1985.

The Fund covers the seven districts in the West Midlands...

  • Wolverhampton
  • Birmingham
  • Sandwell
  • Dudley
  • Solihull
  • Coventry
  • Walsall

...together with numerous other public sector employers. A full list of the employers within the Fund is contained within the Fund's annual report, available on request.

The City of Wolverhampton Council delegates responsibility for the administration and management of the Fund to the Pensions Committee which comprises 20 trustees (ten City of Wolverhampton Council members, one elected member from each of the six district councils and four (non-voting) trade union representatives), together with 12 Pensions Board members and 135 full-time equivalent staff.

The Managing Director of the City of Wolverhampton Council, who is also the Head of Paid Service, delegates certain responsibilities to the Director of Pensions who, in turn, delegates to officers.

In addition, the Fund has the statutory Local Pensions Board whose role is to assist in the good governance of the scheme by ensuring compliance with statutory and regulatory duty; they have no decision-making powers. The Local Pensions Board consists of an equal number of employer (6) and member (6) representatives.

All meet together as the Fund, which has ultimately responsibility for the management and administration of the West Midlands Pension Fund.

More information about these bodies can be found on the links to the left of the page.

 

 

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