News

April 2022

In this section:

• News
• Local government pensions will increase by 6.7% in 2024
• LGPS rule change – The McCloud Judgment
• Pensions and the current cost of living
• Member webinars
• The LGPS and the economy
• Pension Committees and Local Pension Boards

Pension Committees and Local Pension Boards

Each administering authority in our partnership (Camden Council, Merton Council, Waltham Forest Council and Wandsworth Council) has a legal responsibility to maintain and manage their LGPS fund (“the Fund”). This role is referred to as the “scheme manager” in the Public Service Pensions Act 2013. 

Each Fund is overseen by officers of the Administering Authority, Pension Committee, and Local Pensions Board.

Pension Committee

All pension matters are delegated to the respective Pension Committee. The members act as ‘quasi trustees’. The Pension Committee decides the overall policy objectives, strategy and operation of their Fund in accordance with the relevant legislation. It also decides the strategy for the investment of pension fund money and monitors and reviews investment arrangements. Pension Committee meetings are open to the public. You can find view Committee reports, find information on attending a meeting by visiting:

• Camden 
• Merton 
• Waltham Forest 
• Wandsworth

Local 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. You can find view Board minutes, find information on attending a meeting by visiting:

• Camden
• Merton 
• Waltham Forest 
• Wandsworth

Independent Professional Observer

Pension Funds have the power to appoint an Independent Professional Observer to strengthen governance within the Fund. An observer provides enhanced scrutiny of decision making and provide both the Committee and Board with additional experience and knowledge which is impartial from Fund officers. 

Current Vacancies 

Any current vacancies for board members or observers will be listed here:

Camden – Pension Committee Observer

Merton - none

Waltham Forest - Local Pension Board Member

Wandsworth – none

If you are interested in joining the LPB or becoming an observer to the LPB or Pension Committee please put a subject heading in your email “Local Pension Board” or “Pension Committee” and briefly outline your key skills. We will then arrange for a response from the administering authority. Our email address is pensions@richmondandwandsworth.gov.uk.