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your pension you should contact the NESPF - https://www.nespf.org.uk/
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Register of Interests for Pension Board Members
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indefinitely
PURPOSE OF COMMITTEE
To
discharge all functions and responsibilities in respect of the
Council’s role as administering authority for the
North East Scotland Pension Funds
(NESPF). This includes managing the investment of the NESPF in
accordance with the Local Government Pension Scheme (Management and
Investment of Funds) (Scotland) Regulations 2010 and other relevant
legislation.
The
Committee will work alongside the Fund’s Local Pension Board
to consider any pension compliance matters raised.
Where reference is made to ‘the Fund’, this refers
to the Main Fund (the North East
Scotland
Pension Fund) and the Transport Fund (the Aberdeen City Council
Transport Fund).
REMIT OF COMMITTEE
1.
Finance and Risk Management
The
Committee will:
1.1
approve the Funding Strategy Statement, produced in light of the
Fund’s assets and liabilities, and appoint or remove Fund
Managers or new financial vehicles in furtherance of the
strategy;
1.2
approve the budget and expenditure in connection with the
administration of the Fund;
1.3
ensure that an effective system of internal financial control is
maintained through scrutinising financial information presented to
Committee;
1.4
ensure effective risk management of the Fund through monitoring of
adherence to the Fund Risk Management Policy and regular scrutiny
of the Fund risk register; and
1.5
determine applications for Admitted Body Status.
2.
Internal and External Audit
The
Committee will:
2.1
approve the annual audit plans in relation to the Fund;
and
2.2
consider all reports prepared by the Council’s Internal and
External Auditors in relation to the Fund.
3.
Annual Report and Accounts
The
Committee will:
3.1
approve the Annual Report and Accounts, including the Annual
Governance Statement.
4.
Legal Obligations
The
Committee will ensure:
4.1
compliance with the Local Government Pension Scheme (Scotland)
Regulations as amended and with all other legislation governing the
administration of the Fund; and
4.2
adherence to the principles set out in the Pension
Regulator’s Code of Practice.
5.
Scrutiny
The
Committee will:
5.1
monitor and approve the administration of the Local Government
Pension Scheme (LGPS) in accordance with the LGPS (Scotland)
Regulations 2018 and other relevant legislation; and
5.2
scrutinise the performance of Fund Managers, including in relation
to environmental, social and governance (ESG) and voting matters,
through regular performance reports to Committee.
6. Outside Bodies
The
Committee shall determine appointments and nominations to the Local
Authority Pension Fund Forum (LAPFF) and other outside bodies
relevant to its remit.
Executive Lead: Chief Officer – Finance
