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Pensions Board

The role of the Pensions Board is to assist in the good governance of the scheme through the monitoring of Fund performance and adherence to statutory duties.

The Board consists of six employer and six member representatives consisting of five employer (officer) and five member (trade union) representatives together with two City of Wolverhampton councillors, each sitting one as an employer representative and one as a member representative.

The Pensions Board is not a decision-making body, nor does it hold a scrutiny function; its role is to assist in the compliance with scheme rules.

Following approval from the Secretary of State, the West Midlands Local Pension Board is a joint pension board with responsibility to assist in the good governance of both the West Midlands Pension Fund and the West Midlands Integrated Transport Authority Pension Fund.

 

Scheme Advisory Board

Regulation 106 of the Local Government Pension Scheme Regulations 2013 required LGPS administering authorities to establish local pension boards by 1st April 2015 to assist them in the effective administration and governance of the scheme.

Given the passage of time since the establishment of local pension boards, the Scheme Advisory Board considers that it would be appropriate and timely to test the effectiveness and operational efficiency of the new governance arrangements with particular emphasis on the role and function of local pension boards and interaction with their administering authority.

The web based survey at http://lgpsboard.org/survey.php is intended to enable the Scheme Advisory Board to identify any areas of the legislation or related guidance affecting local pension boards that may need to be reviewed to ensure that the statutory requirements of the 2013 Regulations and code of practice issued by the Pensions Regulator are being met. Where appropriate, the Board may make recommendations to DCLG for any regulatory changes that are considered necessary.

 

 

Questions about the Pensions Board

If you have any further queries about the West Midlands Pension Fund's Pensions Board, please contact Jane Hazeldine, Trustee Management Officer by email at jane.hazeldine@wolverhampton.gov.uk.

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