West Northamptonshire Council is one of around 87 councils in the UK responsible for administering the Local Government Pension Scheme in its area. In 2014 the governance arrangements changed following a Government requirement for the creation of a Local Pension Board. This has provided the opportunity for scheme members and scheme employers to become more involved with the management of their own pension scheme to help ensure that it continues to be run effectively and efficiently, while also providing greater accountability.
The Board consists of three scheme member representatives and three scheme employer representatives. We now have two vacancies on the Board for scheme member representatives and so we are therefore looking for expressions of interest from members of the Fund.
We will be looking to formally appoint the new Board members in July/August 2021. If appointed to the Board, you will be involved in supporting the management and administration of the Northamptonshire Pension Fund. This will include reviewing the decisions of the Council’s Pension Committee and Investment Sub-Committee, as well as having the opportunity to input and recommend changes to draft policies before they go before the Pension Committee for approval. Board meetings regularly receive reports on:
• Governance and administration updates on the running of the Fund including:
o Achievement against key performance indicators
o Whether any employers have failed to make the required contributions to the Fund or have been late in making them
o Details of new employer entries to the Fund and also departures
o Any breaches of the law
o New legislation affecting the operation and management of the Fund as well as benefits payable to scheme members
• The Pension Fund’s Business Plan and Medium Term Strategy
• Active monitoring of the Pension Fund Risk Register; and
• Updates on investment performance and the value of the Fund
The Board meets a minimum of four times a year. No prior knowledge of pension scheme management is necessary, just an ability to be objective, to analyse information effectively, and work well in a team. While a voluntary role, full training and background information will be provided to help you undertake the position.
If the roles interest you and you’d like to be considered, please request an application form and information pack, by emailing firstname.lastname@example.org
The closing date for applications will be Friday 2 July 2021.