What are the responsibilities
of the Lothian Pension Fund?
The City of Edinburgh Council is the administering authority for the Local
Government Pension Scheme in Edinburgh and the Lothians. It is responsible
for the financial control of the pension fund. This includes responsibility
for:
Collecting contributions
- Deciding, with expert advice, how much employers should contribute
- Ensuring the timely collection of contributions from employees and employers
- Informing the Occupational Pensions Regulatory Authority of any employer
which makes more than two late payments a year
- Charging interest for late payment of contributions
- Informing members if their contributions have not been passed on to the
Lothian Pension Fund within three months of them being deducted from pay
- Taking legal action if necessary to recover unpaid contributions
- Keeping employers up to date with the 'earnings cap'
Administering benefits
- Posting contributions to individual member records
- Calculating and paying benefits
- Sending members benefit statements, notifications of benefits and statutory
notices
Investing contributions
- Accounting for and investing contributions and maintaining the pension
fund
