Pension boards for the Local Government Pension Scheme
Bromley Council, as administering authority of The Bromley Local Government Pension Scheme (LGPS) Fund is now inviting expressions of interest in becoming a new Employer Representative on our Local Pension Board. If having read the following information, you would like to apply, please complete the relevant expression of interest form and return it as detailed on the form by no later than 31 July 2020.
The Public Service Pensions (PSP) Act 2013 included several provisions relating to better governance and improved accountability of all the various public sector pension schemes. These arrangements apply to the Local Government Pension Scheme (LGPS) from April 2015.
One of the requirements is a Local Pension Board for each LGPS Fund, with responsibility to assist the administering authority or scheme manager.
The board has a duty to:
- secure compliance with; the LGPS regulations;other legislation relating to the governance and administration of the LGPS, and; the requirements imposed by the Pension Regulator in relation to the LGPS and
- ensure the effective and efficient governance and administration of the LGPS
The scheme manager is responsible for preparing the terms of reference for the Pension Board, based on the above requirements. These terms of reference were agreed at a meeting of Full Council on Monday 23 February 2015 and can be downloaded from this page.
The Pension Board consists of two employer representatives and two scheme member representatives. The Pension Regulator has issued a code of practice on the governance and administration of public service pension schemes.
Local Pension Board documents