Committee details

The Public Service Pensions (PSP) Act 2013 included several provisions relating to better governance and improved accountability of all the various public sector pension schemes.

From 1 April 2015 Staffordshire County Council has set up a Pension Board to ensure that as the Scheme Manager for the Local Government Pension Scheme (LGPS) it executes its duties and responsibilities.

The main purpose and role of the Board will be to:

a) Assist the Administering Authority, as Scheme Manager:

·         To secure compliance with the LGPS Regulations and any other legislation relating to governance and administration of the LGPS

·         To secure compliance with requirements imposed in relation to the LGPS by the Pensions Regulator including but not limited to the regulatory strategy of public service pension schemes (as amended);

·         In such matters as the LGPS regulations may specify

b) Secure the effective and efficient governance and administration, including funding and investments of the LGPS for the Staffordshire Pension Fund.

c) Provide the Scheme Manager with such information as it requires to ensure that any member of the Pension Board or person to be appointed to the Pension Board does not have a conflict of interest.

d) To ensure the Staffordshire Pension Fund effectively and efficiently complies with the code of practice on the governance and administration of public service pension schemes issued by the Pension Regulator.

e) Help ensure that the Staffordshire Pension Fund is managed and administered effectively and efficiently in terms of administration and governance including investments and funding and complies with the Code of Practice on the governance and administration of public service pension schemes issued by the Pensions Regulator.

f) Meet sufficiently regularly to discharge its duties and responsibilities effectively.

Membership

Pension Board membership shall consist of a maximum of six members made up of three Employer representatives and three Scheme Member representatives. (see table below):

Scheme Member and Employer Representatives – Appointment Process

1.    The members, who will sit as Scheme Member and Employer Representatives, shall be appointed by the Scheme Manager after applications are sought publicly from employers and scheme members via advertising the positions through a number of public and employer channels.

2.    The Scheme Manager shall seek nominations and consider the applications and nominations received.

3.    Selection will be subject to the role specification and holding the required capacity, knowledge and skills needed to be a member in accordance with this Constitution and the Regulations (subject to any training).

4.    If necessary, an appointment selection committee will be created to interview prospective candidates.

5.    Successful candidates will be informed in writing and their tenure shall begin at the first meeting of the Pension Board thereafter.

6.    Approval of the appointment will be made at the next available meeting of the Pensions Board.

Scheme Member Representatives and Employer Representatives shall be appointed in equal number at all times.

In addition receipt of written approval from the Scheme Manager, the Pension Board may

appoint a non-voting independent advisor to the Pension Board.

You can view the Staffordshire Pensions Board Terms of Reference and Constitution here.