Investment Governance

The Pensions Committee is responsible for setting investment strategy, and it monitors and reviews investment arrangements regularly.

Guidance on investment strategy and other investment matters is provided by the investment consulting arm of the Fund’s actuary and a Joint Investment Strategy Panel (JISP) of advisers. The JISP was formed through a cooperative arrangement with Falkirk Council Pension Fund and Fife Council Pension Fund, and meets at least quarterly with senior fund officers from the three separately-administered funds.  It comprises external independent investment advisers (currently Kirstie MacGillivray and Stan Pearson) and officers of LPFI Limited, which is authorised and regulated by the Financial Conduct Authority.     

The Pension Committee delegates the implementation of investment strategy, including selection of investment managers, to officers of the Fund. Both the Committee and officers manage investment risk by specifying the constraints within which the Fund can operate and by monitoring adherence to these with the support of the legal, risk and compliance function and external advisers on the JISP.    

More information on how we operate is available in our About us section which provides details of our Pensions Committee and Pension Board. 

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