Please note that if you have a query relating to
your pension you should contact the NESPF - https://www.nespf.org.uk/
Register of Interests for Pension Board Members
Please note that online agendas are retained
PURPOSE OF COMMITTEE
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.
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
REMIT OF COMMITTEE
Finance and Risk Management
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
approve the budget and expenditure in connection with the
administration of the Fund;
ensure that an effective system of internal financial control is
maintained through scrutinising financial information presented to
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
determine applications for Admitted Body Status.
Internal and External Audit
approve the annual audit plans in relation to the Fund;
consider all reports prepared by the Council’s Internal and
External Auditors in relation to the Fund.
Annual Report and Accounts
approve the Annual Report and Accounts, including the Annual
Committee will ensure:
compliance with the Local Government Pension Scheme (Scotland)
Regulations as amended and with all other legislation governing the
administration of the Fund; and
adherence to the principles set out in the Pension
Regulator’s Code of Practice.
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
scrutinise the performance of Fund Managers, including in relation
to environmental, social and governance (ESG) and voting matters,
through regular performance reports to Committee.
Executive Lead: Chief Officer