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  • Governance of LGPS Central

Governance of LGPS Central

A governance structure to provide oversight of LGPS Central has been established and approved by the participating Funds' pension committees.

Governance structure
Governance structure

The supervisory body of LGPS Central will be a Shareholders' Forum, comprised of eight members (one representing each partner Fund), plus an Independent Chair. The members will be elected representatives, typically the Chair of the pension fund committee. The Independent Chair will provide stability and continuity, and ensure that the Committee operates in a cohesive and collegiate manner.

The Shareholders' Forum will also represent the shareholder interests of the partner Funds and meet on a quarterly basis. Their powers as shareholders are set out in a Shareholder Agreement.

The LGPS Central Board will be accountable to the Shareholders' Forum for operation of the Authorised Contractual Scheme (ACS) and the Company in general. It will also report to the Practitioners' Forum on wider investor issues, including investment performance, and receive advice from them in terms of investor requirements.

LGPS Central will also provide performance reports to individual Funds and, periodically, attend meetings with individual pension fund committees.

 Meetings of the Joint Committee are subject to the normal rules of Council meetings under Section 101 of the Local Government Act 1972 and are held in the public domain with the agenda and the papers published 5 days in advance. The Joint Committee is clerked by Cheshire Pension Fund and copies copies of the papers are available on their website Here 

 

 

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