Who runs the pension fund

 

Essex Pension Fund is run by Essex County Council (ECC), the Administering Authority for the Local Government Pension Scheme (LGPS) in Essex.

The governance arrangements centre on the three bodies described below:

  1. Essex Pension Fund Strategy Board
  2. Investment Steering Committee
  3. Essex Pension Fund Advisory Board

Essex Pension Fund Strategy Board (PSB)

The PSB exercises the duties of the Council in relation to its functions as Administering Authority. 

The PSB determines the Funding Strategy, agrees the Three-Year Business Plan, approves administration discretions and Employer admission arrangements.

PSB Membership

Essex County Council

Councillor S Barker (Chairman)

Councillor M Platt (Vice Chairman)

Councillor A Goggin

Councillor A Hedley

Councillor M Hoy

Councillor D King

Councillor C Souter

District/Borough Councils in Essex

(Nominated by Essex Borough and District Leaders’ Group)

Councillor C Riley, Castle Point Borough Council

Unitary Councils in Essex

Councillor M Dent, Southend-on-Sea Borough Council

Scheme Members

(Nominated by UNISON)

Mrs S Child

Other Employing Bodies

Mrs R Hadley

Independent Governance and Administration Adviser to the Board - AON

Investment Steering Committee (ISC)

The ISC approves and reviews the Investment Strategy of the Essex Pension Fund. This includes the determination of asset allocation, the appointment of external investment managers, monitoring of investment manager performance and the Fund’s participation within the ACCESS Pool. The ISC reports to the PSB

ISC Membership

Essex County Council

Councillor S Barker (Chairman)

Councillor M Platt (Vice Chairman)

Councillor A Goggin

Councillor A Hedley

Councillor M Hoy

Councillor D King

Councillor C Souter

 

There are also two ISC observers

District/Borough Councils in Essex

(Nominated by Essex Borough and District Leaders’ Group)

Councillor C Riley, Castle Point Borough Council

Scheme Members

(Nominated by UNISON)

Mrs S Child

Essex Pension Fund Advisory Board (PAB)

Following the requirements of Local Government Pension Scheme (LGPS) Regulations laid in early 2015, the Fund established the PAB to act as its Local Pensions Board as set out in the Public Service Pension Act 2013.

The PAB’s purpose is to assist the Fund to secure legal compliance and effective governance in addition to acting as a “critical friend” to the PSB and ISC. The PAB is not a decision-making body. 

PAB Membership

Independent Chairman

N Mark, Independent

Scheme Member Representatives

A Coburn, UNISON

S Roberts, Active Member

D Hurst, Active Member

Vacant

Employer Representatives

J Durrant, Essex Police, Fire and Crime Commissioner Fire and Rescue Authority (Essex PFCC FRA)

Councillor M Bracken, Chelmsford City Council

Councillor J Duffin, Thurrock Borough Council

Councillor L Barber, Essex County Council

 

 

 

 

Helpful information