Pensions Committee and Pension Board

The City of Edinburgh Council is the administering authority for the Scottish Local Government Pension Scheme (LGPS) in the Lothian area. The Council administers the benefits and invests the assets of two LGPS funds, Lothian Pension Fund and Scottish Homes Pension Fund. On this website we refer to these as the Fund.

Lothian Pension Fund is the second largest LGPS fund in Scotland with assets of £8 billion, 80 employers with active members and over 84,000 members. The Scottish Homes Pension Fund investments amount to £0.16 billion with 1,550 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.

Lothian Pension Fund officers and colleagues are employed by an arms-length corporate body, LPFE Limited, wholly-owned by the City of Edinburgh Council as the administering authority. Lothian Pension Fund also 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 (FRN 741954) is authorised and regulated by the FCA.

Pensions Committee and Audit Sub-Committee

All pension matters are delegated to the Pensions Committee of the City of Edinburgh Council, 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 employer. It also decides the strategy for the investment of pension fund money and monitors and reviews investment arrangements. Pensions Committee meetings are open to the public. You can find view Committee reports, find information on attending a meeting or request to speak at the meeting by visiting www.edinburgh.gov.uk/CPOL. Lothian Pension Fund does not hold an AGM.
 
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 non-councillor members are appointed one from the employers and one from the scheme members.
The table below shows the current Committee members and its terms of reference can be seen here.
 
Pension Committee membership
Councillor Alasdair Rankin, 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 membership
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, retired member

Pension Board

The Public Service Pensions Act 2013 set out the requirement to have a Pension Board and the membership requirements 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 and has a Pension Board constitution. The Board attends all Pensions Committee meetings and representatives also attend the Audit Sub-Committee meetings. They work with the Pensions Committee who have decision making responsibility for the Fund.

The 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.  The Committee and Board members must attend no less than 21 hours of training per year as outlined in the Fund's training policy.
 
The current Board members are:
 
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
Lesley Henderson (West Lothian Council)  email: lesley.henderson@westlothian.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
Vacancy

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. 

Scheme Advisory Board

A Scheme Advisory Board 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 advice to scheme managers and pension boards about effective and efficient administration and scheme management. The Scheme Advisory Board has seven member and seven employer representatives. Councillor Rankin, the Convener of the Pensions Committee is currently a member and officers of the Fund also advise the Board.

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 (currently Scott Jamieson and Gordon Bagot). 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.