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This page lists the meetings for Pensions Committee and Pension Board.
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 indefinitely
of Reference 2021
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
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).
Finance and Risk Management
The Committee will:-
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
ensure that an effective system
of internal financial control is maintained through scrutinising
financial information presented to Committee;
ensure effective risk
management of the Fund through monitoring of adherence to the Fund
Risk Management Policy and regular scrutiny of the Fund risk
determine applications for
Admitted Body Status.
Internal and External Audit
approve the annual audit plans
in relation to the Fund; and
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 Governance Statement.
The Committee will ensure:-
compliance with the Local
Government Pension Scheme (Scotland) Regulations as amended and
with all other legislation governing the administration of the
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 – Finance
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