Pensions Committee and Pension Board

Lothian Pension Fund is the second largest LGPS fund in Scotland with assets of £8.5 billion, 72 employers with active members and over 89,000 members. The Scottish Homes Pension Fund investments amount to £0.15 billion with 1,470 members. The Fund is managed by its officers who oversee operations in pension administration, accounting, and investment management. They are overseen by officers of the Administering Authority, Pensions Committee, and Pensions Board.

Pensions Committee 

Pension matters are delegated to the Pensions Committee of the City of Edinburgh Council (as administrating authority for the Local Government Pension Scheme in the Lothian area), supported by its Audit Sub Committee. The members act as ‘quasi trustees’ and meet four times a year.
 
The Pensions Committee decides the overall policy objectives, strategy and operation of the Fund in accordance with relevant legislation and in the best interests of its members and employers. It also decides the strategy for the investment of pension fund money and monitors and reviews investment arrangements. Its purpose and structure is set out in the Committee's terms of reference and the procedural matters for the meetin are detailed in LPF's procedural standing orders
 
Pensions Committee meetings are open to the public. You can view Committee reports, find information on attending a meeting or request to speak at the meeting by visiting www.edinburgh.gov.uk/CPOL

The Pensions Committee is made up of five City of Edinburgh Council elected members and two non-councillor members who all have full voting rights. The two non-councillor members are appointed one each from the employers and scheme members. These roles are re-elected every three years. 

Pension Committee membership

  • Councillor Rob Munn, Convener
  • Councillor Maureen Child
  • Councillor Neil Ross
  • Councillor Steve Burgess
  • Councillor Cameron Rose
  • John Anzani, member representative
  • Richard Lamont, employer representative, VisitScotland
Pension Audit Sub-Committee 
The Pensions Audit Sub-Committee monitors the operation of the Fund's internal controls, governance, risk and compliance arrangements and financial reporting. Two Pension Board members also attend the Audit Sub-Committee to provide oversight for the Board.  Its members are:
  • Councillor Cameron Rose, Convener
  • Councillor Maureen Child
  • John Anzani, member representative

Pension Board

The Public Service Pensions Act 2013 set out the requirement to have a Pension Board and the membership requirements are outlined in the LGPS 2014 regulations. The Board’s role is to oversee the Fund’s operation and ensure that it’s meeting its legal and administrative requirements.  There is a Pension Board constitution. The Board attends all Pensions Committee meetings and representatives also attend the Audit Sub-Committee meetings. 

The Baord membership comprises of ten members, five representatives appointed from the employer bodies, and five representatives appointed by trade unions for the membership of the Fund. 
 

Employer representatives

  • Darren May (Scottish Water)  email: darren.may@scottishwater.co.uk
  • Alan Williamson (Edinburgh College)  email: alan.williamson@edinburghcollege.ac.uk
  • Sharon Dalli (Scottish Police Authority)  email:sharon.dalli@scotland.pnn.police.uk
  • Nick Chapman (Lothian Valuation Joint Board) email:nick.chapman@lothian-vjb.gov.uk
  • Vacancy

Member representatives

  • Jim Anderson (Unison) email: jimanderson.loki@gmail.com
  • Thomas Carr Pollock (GMB) email: Thomas.carr-pollock@westlothian.gov.uk
  • Brian Robertson (Unite)  email: Brian.Robertson2@unitetheunion.org
  • Tom Howorth  email: Tom.Howorth@unison-edinburgh.org.uk
  • Tony Beecher email: TBeecher@LothianBuses.co.uk

Training for the Committee and Board 

The Committee and Board members must attend no less than 21 hours of training per year as outlined in the Fund's training policy and adher to the Code of Conduct.  

Independent Professional Observer

The Fund appointed an Independent Professional Observer to strengthen governance within the Fund. Andy McKinnell was appointed as the Observer in May 2018 and his role is to provide independent observations to enhance scrutiny of the decision making and provide both the Committee and Board with additional experience and knowledge which is impartial from Fund officers. 

LPFI Board

Lothian Pension Fund provides strategic investment advisory services to partner funds, and this service is delivered through LPFI Limited, a corporate body wholly-owned by the City of Edinburgh Council. LPFI Limited is a limited company with registered number SC497542 and authorised and regulated by the Financial Conduct Authority (Reference Number 741954) having its registered office at 4th Floor Saltire Court, 20 Castle Terrace, Edinburgh, EH1 2EN.

LPFE Board

Lothian Pension Fund officers and colleagues are employed by an arms-length corporate body, LPFE Limited, a corporate body wholly-owned by the City of Edinburgh Council as the administering authority.  LPFE Limited is a limited company with registered number SC497543 and having its registered office at 4th Floor Saltire Court, 20 Castle Terrace, Edinburgh, EH1 2EN.


Joint Investment Strategy Panel 

Investment strategy guidance to the Committee is provided by a Joint Investment Strategy Panel (JISP), working in collaboration with the Falkirk Council and Fife Council pension funds. The JISP meets quarterly and includes senior officers and external investment advisers. The Pensions Committee of each pension fund agrees their own investment strategy but delegates the implementation of strategy, including selection of investment managers, to officers. The JISP advises the three pension fund administering authorities on implementation of their respective investment strategies. The assets of Lothian Pension Fund, Falkirk Council Pension Fund and Fife Council Pension Fund remain separate.  You can find more about the Fund's investments here.


Scheme Advisory Board

A Scheme Advisory Board (SAB) for the Local Government Pension Scheme in Scotland was set up on 1 April 2015. Its main function is to advise Scottish ministers, when requested, on changes to the Scheme. They also provide guidance to the Pension Committee (scheme manager) and Pension Board about effective and efficient administration and scheme management. The Scheme Advisory Board has seven member and seven employer representatives. Councillor Rose, the Convener of the Pensions Audit Sub Committee and Brian Robertson, LPF Pension Board employee representative, are both currently members of SAB and officers of the Fund also advise the Board.