North Yorkshire Pension Fund

Pension Fund Committee

As a statutory pension scheme the Local Government Pension Scheme (LGPS) does not have trustees as such.  Decisions are required to be made by each Administering Authority which in the case of the North Yorkshire Pension Fund is the North Yorkshire County Council.  The decision making process is carried out via the Pension Fund Committee.  The elected Members who sit on the Pension Fund Committee act on behalf of the beneficiaries of the LGPS and in this way have a similar role to trustees in protecting the benefits of the LGPS members.

The Pension Fund Committee meets 5 times per year and its membership is currently as follows:

County Councillors

J K Weighell OBE
H Swiers M Chambers
Mulligan, Patrick
J K Weighell OBE
Conservative (Chair)
H Swiers
Conservative (Vice Chair)
M Chambers
Conservative
P Mulligan
Conservative
A Thompson A Solloway C Lunn D Mackay
A Thompson
Conservative
A Solloway
Independent
C Lunn
Conservative
D Mackay
NY Independent

City and District Councillors

 

Clark, Jim C Vassie
J Clark
North Yorkshire District Councils
Conservative
C Vassie
City of York Council
Liberal Democrat
   

The Pension Fund committee's constitutionally defined delegated powers are to exercise the powers of the County Council to invest monies forming part of the Pension Fund, including:

To exercise all the County Council's powers as administering authority for the North Yorkshire Pension Fund, subject to any specific instructions that might be given from time to time by the Council.

To carry out the County Council’s functions in accordance with the Local Government Pension Scheme Regulations and associated legislation.

 

The Pension Fund Committee therefore:

 

Over the years the business of the Pension Fund Committee has increased in complexity particularly in the areas of investment risk management and legislative changes.  It has therefore been imperative that members of the Pension Fund Committee have taken the opportunity to attend seminars and training sessions covering those areas of activity.  The Investment Adviser and Treasurer also provide regular workshops on topical issues.