The terms of reference for the Local Pensions Board are available on the Fund’s website.
The role the Local Pensions Board is to assist in the good governance of the Local Government Pension Scheme through the monitoring of compliance with statutory regulation and guidance and to act as a representative both for and on behalf of the employer and member base ensuring effective governance and administration in the management and payment of pension benefits.
Pension Board members are non-political, they represent the Fund’s members and employers (not political group, trade union or individual employer) and must consider the Fund’s overriding objective, which is to pay members benefits when they fall due.
As detailed in the diagram below, the Pensions Board consists of six employer and six member representatives, two of which (one from each category) are elected Councillors of the administering authority.
Each member of the Board has a right to vote on matters brought before it. The positions of Chair and Vice Chair are appointed annually by vote of the membership, with a rotation of employer and member representatives each year. Further information with regards to representation on the Local Pensions Board can be found in the Representation Policy which is available on the Fund’s website. Appointments to the Local Pensions Board are made in accordance with the Fund’s Local Pensions Board Appointments process which is also available on the website. In line with Pensions Committee, the Board also meet on a quarterly basis.
The Board establishes an annual programme of work focused on the Fund’s governance and administration, monitoring the Fund’s compliance with statutory and regulatory guidance and working with officers to ensure the highest standards are met. The workplan covers the broad range of functions undertaken by the Fund including data management, financial management, funding policy and investment governance and stewardship. A report on the work of the Pensions Board is provided to the Pensions Committee on an annual basis.
Mark Smith (Vice Chair)
Julian Allam (Chair)