Pensions Committee

The Pensions Committee has the following roles and responsibilities:-

(a) To decide and set from time to time:-

(i) the strategic asset allocation and objectives of the Staffordshire County Council Pension Fund ("the Pension Fund");

(ii) the strategic benchmarks for the performance of the Pension Fund against which the actual performance is to be measured;

(iii) the strategic targets against which the performance of the Pensions Panel and Fund Managers is to be measured;

(iv) the arrangements for consultation with the stakeholders that have an interest in the affairs of the Pension Fund.

(b) To review at not more than yearly intervals the performance of the Pension Fund and the Pensions Panel against the strategic objectives, benchmarks and targets set by them and to consider if, and to what extent, any change may be necessary to ensure the efficient and effective performance of the Pension Fund;

(d) To maintain a Communication Strategy.

(e) To approve the Pension Fund Annual Report and Accounts.

(f) To receive a report at least annually on pensions administration activities.

(g) To approve and keep under review the Fund's Additional Voluntary Contribution (AVC) arrangements.

(h) To approve the formal Actuarial Valuation.

(i) To approve the admission of employing organizations to the Fund where there is discretion to do so.

(j) To have due regard to the advice of the Chief Finance Officer and to the advice of Consultants appointed by the Committee for the purpose (the appointment of whom may be made by the Committee on such terms and conditions and for such duration as the Committee may consider appropriate) with expertise in either or both of the following fields:-

(i) Actuarial matters and Risk/Liability assessment

(ii) Investment Strategy and Allocation;

(k) To monitor from time to time the advice received from Consultants.

(l) To have regard to the advice of the Pensions Panel on matters referred to the Committee for consideration by the Panel and to call for advice from any Adviser or Manager who could have been asked by the Pensions Panel to give the Panel advice.

(m) If the Pensions Committee shall disregard the advice of Consultants given under Article 9A.2 their reasons for so doing shall be recorded in the minutes of the Committee.

(n) To deal with any other matters arising in respect of Local Government Pensions.

Last Modified: 30/07/2007 13:21:51
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