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How the Fund works

Independent Professional Observer

A new independent professional observer, Andy McKinnell, was appointed by Lothian Pension Fund in May 2018 following a tender process.   

Andy McKinnell, who is owner/director of Andy McKinnell Ltd, is an experienced pensions professional with more than 30 years of pension experience working with pension trustees and sponsors on a wide range of investment, actuarial and governance issues.

Until 2017, Andy was a partner with a major investment consulting firm Aon Hewitt and previously he has held Scheme Actuary appointments, has supported trustee boards as scheme secretary and has advised corporate sponsors whilst working for an accounting firm.  Andy’s experience includes Senior Manager in actuarial benefits and consulting team, Scheme Actuary for Pricewaterhouse Coopers and Actuary and Consultant with Sedgwick Noble Lowndes.

The Independent Professional Observer is appointed by the Fund to strengthen governance within the Fund. The role is to provide independent advice to the Pensions Committee and Pension Board.  The appointment enhances the observations of decision making and provide the Board and Committee with additional experience and knowledge impartial from Fund officers.  The appointment followed Scottish Office guidance on ways that Funds could enhance their governance process by the participation of an independent professional observer.