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Pension board
Board member role description

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1. Introduction

1.1 City of Bradford Metropolitan District Council (Bradford), as Scheme Manager, has delegated legal and strategic responsibility for West Yorkshire Pension Fund (WYPF) to the Governance and Audit Committee. The Council has established two bodies to assist and support the Governance and Audit Committee in overseeing the Fund, namely the WYPF Investment Advisory Panel and the WYPF Joint Advisory Group.

1.2 In accordance with the regulations, Bradford is required to establish a Pensions Board. The Pension Board is separate from WYPF Investment Advisory Panel and the WYPF Joint Advisory Group.

2. Objectives of the Pension Board

2.1 The role of the Pension Board, as defined by sections 5(1) and (2) of the Public Service Pensions Act 2013 is to assist City of Bradford Metropolitan District Council as Scheme Manager in ensuring the effective and efficient governance and administration of the LGPS including:

  • secure compliance with the Local Government Pension Scheme regulations and any other legislation relating to the governance and administration of the LGPS;
  • secure compliance with the requirements imposed in relation to the LGPS by the Pensions Regulator; and
  • In such other matters as the LGPS regulations may specify.

2.2 The role of the representative is to represent the interests of the employers or members within the Fund and channel information back to them effectively.

3. Undertakings

3.1 Board Members will be required to:

  • Prepare for all meetings in advance, including reading all papers and minutes
  • Contribute to setting the agenda for meetings
  • Actively participate in meetings
  • Have due regard for members and employers when making decision
  • Comply with the Nolan Principals

3.3 Board Members will have the capacity and will endeavour to attend all meetings.

3.4 Board Members will have the capacity and will undertake and attend the necessary knowledge and understanding training.

3.5 Board Members will abide by the Pension Boards Terms of Reference and wider constitutional documents.

4. Conflicts of Interest

4.1 Board Members will be required to adhere to the Conflicts of Interest Policy.

4.2 The Regulations place a duty on the Administering Authority to satisfy itself that those appointed to its Pension Board do not have an actual conflict of interest prior to appointment and from time to time. Any conflicts of interest must be declared on appointment to the Board and if or when they occur.

5. Training and Knowledge

5.1 Board Members will be required to undertake a personal training needs analysis and to regularly review their skills, competencies and knowledge to identify gaps or weaknesses.

5.2 Board Members are expected to attend training opportunities.

5.3 Board Members must be conversant with:

  • the rules of the scheme, and
  • any document recording policy about the administration of the scheme.

5.4 Board Members must have knowledge and understanding of:

  • the law relating to pensions,
  • the requirements of the Pensions Regulator in relation to public sector schemes,
  • any other matters which are prescribed in the regulations.

6 Expected Qualities

6.1 The following are expected qualities Board Members should have:

  • Commitment to the role,
  • Integrity, vision and good, independent judgment
  • A willingness to devote the necessary time and effort to their duties as a Board Member
  • Ability to help formulate recommendations
  • Good communication skills
  • Tact and diplomacy
  • Understanding of the legal responsibilities of West Yorkshire Pension Fund.

7 Desirable experience and knowledge

7.1 Board Members should have:

  • Knowledge and experience of governance or management of work based pension schemed and the regulatory bodies involved.
  • Knowledge of local government pension schemes,
  • An awareness of the practices and policies of the LGPS including:
  • Pension fund administration and governance
  • Pension fund investment management
  • Pension fund liability management
  • Law relating to pensions

7.2 Board Members will be expected to undertake training to address any gaps in their experience and knowledge as soon as possible.

8 Time Consideration

8.1 The Board meets at least twice a year. In addition to meetings, contact electronically or by telephone may be necessary.

8.2 In addition regular training will be required and the time commitment of this will fluctuate dependant on representatives needs but may equate to up to 10 days per year.