Committee details

PENSION BOARD

The role of the local Pension Board is defined by section 5 of the Public Service Pensions Act 2013 and regulation 106 of the Local Government Pension Scheme Page 112 Constitution Part Five, Sections One and Two – Committee Duties, Membership and Chairmanship Amended May 2023 (LGPS) Governance Regulations 2013. It is to assist the administering authority (the Council) with:

Securing compliance with the LGPS Governance regulations and any other legislation relating to the governance and administration of the LGPS;

Securing compliance with any requirements imposed by the Pensions Regulator in relation to the scheme, and,

Ensuring effective and efficient governance and administration of the scheme[1]recommendations to the Investment Committee.

1.              

Membership is by appointment process. The Pension Board shall consist of six members and be constituted as follows:

(i)    Three employer representatives comprising one from an admitted or scheduled body and two nominated by the Council; and

(ii)   Three scheme member representatives whether from the Council or an admitted or scheduled body.

(iii) The process for selecting non-Council nominated members of the Pension Board is set out in a separate document “Selection of Pension Board members”.

(iv) Only one employee/employer representative should resign each year, on a rolling basis, so that the Board would always have two serving representatives.

The Pension Board shall be quorate when three Pension Board Members are in attendance.

·       The Chairman and Vice Chairman of the Board will be appointed by members of the Board as the first business at their first meeting.

·       Each Scheme Member representative may agree a nominate substitute at the first meeting who would act in the Board member’s absence.

·       Each Employer representative is there on behalf of the employer, so may be replaced by the nominating body with another individual representing the same employer.

·       Each Employee member shall be appointed for a fixed period of four years, which can be extended for a further four-year period subject to re-nomination.