The Committee is responsible for the management of the Leicestershire LGPS also referred to as ’the Fund’. This covers staff employed (or previously employed) by all Leicestershire district councils, Leicester City Council, Loughborough and De Montfort universities, and Leicestershire County Council.
Its purpose is to safeguard and manage the assets of the employers held within the Fund, ensuring that pensions and lump sum benefits can be paid to Fund members.
Please see the Committee’s Terms of Reference for further information.
Who is on the Committee
The Local Pension Committee includes five representatives from the county council, two representatives from the city council, two representatives on behalf of the seven district councils, and one representative on behalf of Loughborough and De Montfort University. It also includes three (non-voting) employee representatives appointed by fund members at their Annual General Meeting (AGM).
Further details on the membership of the Committee with contact details can be found at Local Pension Committee details (Council and Democracy).
Meetings
The Committee meets at least four times a year. Agendas, reports, minutes and dates of forthcoming meetings can be found at Local Pension Committee meetings (Council and Democracy).
The Local Pension Board
The Local Pension Committee is required to have regard to the advice of the Local Pension Board which has been established in accordance with the Local Government Pension Scheme (Amendment) (Governance) Regulations 2015.
Its role is to assist the county council (which is the administering authority for the Fund) in ensuring the effective and efficient governance and administration of the LGPS. Unlike the Local Pension Committee, the focus of the Board is on administration not investments.
The Local Pension Board comprises of six representatives; three employer representatives who are all elected members (two from Leicestershire County Council and one from Leicester City Council) and three employee representatives appointed by fund members at its AGM.
You can view the Terms of Reference for the Board and further details of Board meetings (Council and Democracy).
Leicestershire Local Government Pension Fund Annual General Meeting (AGM)
The Annual General Meeting for all Fund members is held in December each year. Fund Members include active contributors, deferred members and pensioners.
The purpose of the meeting is to enable Fund members to consider the contents of the Pension Fund Annual Report, to receive a report by the Employee Representatives of both the Committee and Local Pension Board and to elect employee representatives to sit on the Committee and the Board for the following 12 months.
Details regarding AGMs can be found at Pension Fund and Finance (Leicestershire County Council Pension Fund).
LGPS Central Joint Committee
The county council has established joint arrangements with eight Midlands-based Local Government Pension Funds (Leicestershire, Cheshire, Shropshire, Staffordshire, West Midlands, Derbyshire, Nottinghamshire and Worcestershire) to form the Local Government Pension Scheme Central Investment Pool. A joint committee has been established to enable representatives from the eight authorities to meet, ask questions of the operator of the Investment Pool and challenge the performance of investments and investment managers.
The joint committee is serviced by Cheshire West and Chester Council. You can find meeting papers and minutes for the joint committee at Meetings and Agendas (Cheshire Pension Fund).
Conflicts of interest
The Leicestershire Pension Fund has in place a Conflict of Interest Policy. This details how actual and potential conflicts of interest will be identified and managed by Local Pension Committee and Board Members and by those involved in the management and governance of the Fund.
As required by the Policy, Local Pension Committee and Local Pension Board members are required to complete a Conflict of Interest form. Copies of the current interest forms for all Committee and Board members can be found at Democratic Library (Council and Democracy).
Annual reports
The Local Pension Committee is required to produce an annual report setting out the Fund’s financial position each year. The Local Pension Board is also required to produce an annual report summarising its work.
Please see both the Committee’s and the Board’s current annual reports (Council and Democracy).
Further information
If you would like more information on pensions this can be found at Leicestershire County Council Pension Fund.