What is the role of the Pension Board?
The Pension Board at Tower Hamlets Fund plays an important role in providing oversight of the governance and administration of the Fund. It is an advisory body which can provide advice and steer to the Pension Committee, which makes decisions on how the Fund should operate.
How is the Board made up?
The Pension Board consists of:
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The three employer representatives are ideally drawn from different types of employers in the Fund. Currently, there is one from Brighton and Hove City Council, the largest employer outside of East Sussex Council and one from the district and borough councils. An education sector employer previously held the now vacant post.
In relation to his time on the Pension Board, Stephen has said:
Being a member of the LGPS Pension Board provides an excellent opportunity to understand the workings of the Fund and to monitor and provide input to issues that arise in managing the Fund. I have found being an employer representative a really positive experience and would highly recommend it if you are interested in pensions.
What does ‘being on the Board’ entail?
Members of the Pension Board are expected to:
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· Attend and contribute to quarterly Board meetings. · Participate in working groups which focus on specific challenges facing the Pension Fund. · Represent all scheme employers and provide a mechanism for employers to feed into the governance and administration of the Fund · Develop and maintain the knowledge and understanding required to carry out their role by attending training courses, webinars and through online training modules regularly and complete an annual knowledge assessment. |