Who runs the pension fund

Essex Pension Fund is run by Essex County Council (ECC), the Administering Authority for the Local Government Pension Scheme (LGPS) in Essex.

The governance arrangements centre on the three bodies described below

  1. Pension Strategy Board
  2. Investment Steering Committee
  3. Pension Advisory Board

 

1. Pension Strategy Board (PSB)

The PSB exercises the duties of the Council in relation to its functions as Administering Authority. 

The PSB determines the Funding Strategy, agrees the annual business plan, approves administration discretions and employer admission arrangements.

PSB Membership

Essex County Council

Councillor S Barker

Councillor S Canning

Councillor A Goggin

Councillor A Hedley

Councillor L Scordis

Councillor C Souter

 

District/Borough Councils in Essex

(Nominated by Essex Borough and District Leaders’ Group)

Councillor C Riley Castle Point Borough Council

Unitary Councils in Essex

Councillor A Moring Southend-on-Sea BC

Scheme Members

(Nominated by UNISON)

Mrs S Child

Smaller Employing Bodies

Mrs J Moore

Independent Governance and Administration advisor to the board - Hymans Robertson

 

2. Investment Steering Committee (ISC)

The ISC approves and reviews the investment strategy of the Essex Pension Fund. This includes the determination of asset allocation, the appointment of external investment managers, monitoring of investment manager performance and the Fund’s participation within the ACCESS pool. The ISC reports to the PSB

ISC Membership

Essex County Council

Councillor S Barker

Councillor S Canning

Councillor A Goggin

Councillor A Hedley

Councillor L Scordis

Councillor C Souter

 

There are also two ISC observers

District/Borough Councils in Essex

(Nominated by Essex Borough and District Leaders’ Group)

Councillor C Riley Castle Point Borough Council

Scheme Members

(Nominated by UNISON)

Mrs S Child

 

3. Pension Advisory Board (PAB)

Following the requirements of Local Government Pension Scheme (LGPS) Regulations laid in early 2015, the Fund established the Essex Pension Fund Advisory Board (PAB) to act as its Local Pension Board as set out in the Public Service Pension Act 2013.

The PAB’s purpose is to assist the Fund to secure legal compliance and effective governance in addition to acting as a “critical friend” to the Pension Strategy Board (PSB) and Investment Steering Committee (ISC). The PAB is not a decision making body. 

PAB Membership

Independent Chairman

N Mark Head of Norfolk Pension Fund

Scheme Member Representatives

A Coburn UNISON

P Hewitt Deferred Member

M Paget Deferred Member

Vacancy

Employer Representatives

J Durrant, Essex Police, Fire & Crime Commissioner

Councillor T Cutmore Rochford District Council

Councillor S Hebb Thurrock Borough Council

Councillor S Walsh Essex County Council

 

 

 

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