Pensions Committee
Pensions Committee consists of Trustees who sit as the decision-making body of the Fund.
As a statutory public service scheme, the Fund has a different legal status compared with trust-based schemes in the private sector. Although those making decisions relating to the Fund are required, in many ways, to act as if they were Trustees in terms of their duty of care, they are subject to a different legal framework and are not Trustees in the strict legal sense.
The key duties in discharging this role are:
To be responsible for compliance with legislation and best practice
To determine admission policy and agreements
To review and agree the Investment Strategy Statement, Funding Strategy Statement, Administration Policy, Pension Administration Strategy, Governance Compliance Statement, Communications Statements and publish a Pension Fund Annual Report
To appoint committee advisors
The selection, appointment and dismissal of an investment pool operator to manage the assets of the Fund
To determine detailed management budgets
To monitor investment activity and the performance of the Fund's investments
To administer all aspects of the West Midlands Pension Fund on behalf of City of Wolverhampton Council and the West Midlands Integrated Transport Authority Pension fund under S101 Local Government Act 1972 delegation from the Combined Authority.
Further information about the role of Pensions Committee together with its terms of reference can be found in the Constitution of the City of Wolverhampton Council
Questions about the Pensions Committee
If you have any further queries about the West Midlands Pension Fund's Pensions Committee, please contact our Governance Team, by email at WMPFGovernance@wolverhampton.gov.uk
