What’s the Local Pension Board?
The Local Pension Board’s (LPB) role is to help West Northamptonshire Council to manage the Local Government Pension Scheme (LGPS). The board has three scheme member and three employer representatives. Their responsibility is to make sure the scheme is compliant with the regulations and other governance and administration legislation set by the Pensions Regulator.
What would I get to do?
If successful, you’ll get to review the decisions of the Pension Fund Committee and Investment Sub-Committee and recommend changes to draft policies. Board meetings regularly get reports on:
- Governance and administration updates on the running of the Fund including:
- Achievement against key performance indicators
- Whether any employers have failed to make the required contributions to the Fund or have been late in making them
- Details of new employer entries to the Fund and also departures
- Any breaches of the law
- New legislation affecting the operation and management of the Fund as well as benefits payable to scheme members n late in making them
- The Pension Fund’s Business Plan and Medium-Term Strategy
- Active monitoring of the Pension Fund Risk Register
- Updates on investment performance and the value of the Fund
The board meets a minimum of four times a year. You don’t need to have any previous knowledge of pension scheme management, just an ability to be objective, to work in a team and to analyse information effectively.
Will I get paid?
This is a voluntary role and you’ll be given full training and any background information you need to help you carry it out. If successful, you’ll also be recommended to attend relevant pension related national conferences where the fees, attendance and travel will be paid for. This is in addition to having your reasonable travelling expenses to board meetings paid for.
Where can I get more information?
You can find more information on our website and the Democratic Services website.
How can I apply?
If the role interests you and you’d like to be considered please ask for an application form and information pack, by emailing governancepensions@westnorthants.gov.uk
The closing date is 25 November 2022.
