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How the Fund works

Pension Committee - non elected members

Lothian Pension Fund has two seats on its Pensions Committee for non-elected members.

Non-elected Pensions Committee members can serve a maximum of two consecutive years before either standing down or submitting themselves as a candidate for further election.

As a result, Lothian Pension Fund is currently seeking nominations for Pensions Committee (member and employer representation): two non-councillor members of the Pensions Committee (with full voting rights), one drawn from the employer bodies and one from the scheme membership of the pension funds.

Our current non-elected members are John Anzani (member representative) from Midlothian Council and Richard Lamont (employer representative) from Visit Scotland. We understand that they are both intending to submit themselves for re-election, however this should not necessarily deter you from putting forward a further nomination for consideration.

The information below provides more detail on the remit and the nomination process and timescales.

Pensions Committee (remit)

The remit of the Pensions Committee is to determine the overall policy objectives, strategy and operation of the Lothian Pension Fund and the Scottish Homes Pension Fund in accordance with relevant legislation and in the best interests of the members and employer bodies within the pension funds. In particular, the Committee also oversees the strategy for the investment of pension fund monies and monitors and reviews investment arrangements.

Pensions Committee membership comprises 5 elected members of the City of Edinburgh Council and 2 external members for which nominations are currently being sought.

The Pensions Committee meets concurrently with the Pension Board. The Pension Board which has a remit to ensure that the actions of the Committee and the operations of the Funds are compliant with the relevant law and regulation.

Requirements of a Pension Committee Member

As a guide, the preferred candidates would ideally have experience in some or all the following areas:

· A working knowledge of the LGPS, from either a finance, HR or other relevant perspective.

· Having participated in other senior boards or committees and therefore have experience of best practice governance.

· An awareness of audit procedures and processes

· An awareness of the regulatory environment in which the fund operates.

The selection process will then proceed as follows:

· Once either the employer bodies and/or members of the Fund have been given a reasonable period of time to respond, LPF will draw-up a list of relevant candidates for each of the roles and send that list on to the Review Panel for assessment.

· The Review Panel will check the candidates and their respective submissions with a view to excluding any candidates that, at their discretion, would have a Conflict of Interest or not meet any standards, guidance or code of practice issued by the Pensions Regulator in relation to the knowledge, understanding and expertise for a member of such a body from time to time.

Please see the Fund’s Nomination and Appointments Policy for full details.

Committee meetings and training

The Pension Committee meets four times a year and is required to undertake a minimum of 21 hours training per financial year. More details of training and attendance requirements can be found in the training and attendance policy, but any successful candidate will be required to meet these minimum requirements to ensure the fund continues to comply with the Pension Regulators code of practice.

Constitutional Documentation

Links to the relevant documentation for the operation of the Pensions Committee and Pension Board are here:

· Terms of reference of the Pensions Committee.

· Nomination and Appointments Policy

· Training and Attendance Policy

· Pension Board Constitution

Members of the Pensions Committee will also be required to abide by, and sign up to, the Code of Conduct

How to Apply

Here are links to the application form for nominations to the Pensions Committee.

Please submit your application on or before 13 May 2019.

Contacts

If you would like to contact the Fund regarding the nomination process or have a query regarding applying to become a Pensions Committee member, please do not hesitate to contact:

· Susan Handyside, Compliance Officer, Lothian Pension Fund

Email: Susan.handyside@edinburgh.gov.uk; or

· Struan Fairbairn, Chief Risk Officer, Lothian Pension Fund

E-mail: Struan.fairbairn@edinburgh.gov.uk