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Pension Fund Committee

This page lists the meetings for Pension Fund Committee.

Meetings

Information about Pension Fund Committee

The terms of reference for the Pension Fund Committee are set out in Part 7 of the Council’s Constitution, located in the Library section of this website.

 

Purpose of the Pension Fund Committee

The Pensions Fund Committee is responsible for the following, and has full delegated powers to take all decisions in connection with the exercise of these functions:

·         determining overall investment strategy and strategic asset allocation for the Pension Fund, taking account of the overall profile of Fund liabilities and considering the approach to tolerance of risk

·         to be consulted on the appointment and termination of investment managers and changes to the terms of the mandates of existing managers.

·         policy with regard to socially responsible investment, corporate governance and shareholder activism.  These tasks may be delegated to the Fund’s investment managers, who conduct the delegated tasks in line with the Pensions Fund Committee’s policies.

·         to be consulted on the appointment and termination of Additional Voluntary Contribution (AVC) providers.

·         to be consulted on the appointment and termination of investment advice consultants, the fund actuary, custodian for Pension Fund assets, and other contracts related to the management of the Pension Fund

·         maintenance of statutory compliance statements, including the Statement of Investment Principles (SIP), the Funding Strategy Statement (FSS) and the document setting out the Fund’s Myners disclosures.

·         obtaining regular professional advice from the fund managers, officers, investment advisers and the fund actuary as appropriate.

·         recommending broad policy guidelines for the investment managers.

·         monitoring the fund and the performance of the investment management arrangements and recommend any changes as are considered appropriate.

·         receiving details of the annual accounts and agree an Annual Report for submission to the Audit & Governance Committee and Full Council

·         determining matters related to pensions benefits administration for the Local Government Pension Scheme receiving monitoring reports for performance of the contract for pensions benefits administration 

·         considering issues associated with the membership and marketing of the Fund.