The Berkshire Pension Fund Committee (the Committee”) consists of 5 Elected Members (Councillors of the Administering Authority, The Royal Borough of Windsor & Maidenhead (RBWM)). The 5 Committee members have voting rights on any decision to be taken in respect of the Pension Fund’s activities.
Therefore, the main purpose of the Committee is to exercise the general powers and duties of an Administering Authority (RBWM) in the maintenance of the Royal County of Berkshire Pension Fund as may be required in accordance with the Superannuation Fund Act 1972, The Public Service Pensions Act 2013 and Local Government Pension Scheme Regulations existing under those Acts including, but not restricted to the following:
(i) Setting of the Investment Strategy and Funding Strategy Statements and determination of the Strategic Asset Allocation of the Pension Fund’s assets in the light of professional advice and other suitably qualified independent advice, legislative constraints and Codes of Practice.
(ii) Responsibility for the statutory policies and administration of the Royal County of Berkshire Pension Fund maintained by the Administering Authority in accordance with the Local Government Pension Scheme Regulations, The Local Government Pension Scheme (Management of Investment of Funds) Regulations, all other associated legislation and Pension Regulator Codes of Practice.
(iii) Determination of the arrangements for obtaining appropriate investment advice including the appointment of a suitably qualified independent person or persons to give expert advice on Pension Fund investment and management arrangements.
(iv) The periodic review and monitoring of the Pension Fund’s investment performance in line with the Advisory and Management Agreement entered into with the Local Pensions Partnership (Investments) Limited (LPPI).
(v) To consider the Annual Report and Accounts of the Fund.
(vi) The reporting of any breaches of the law to the Pensions Regulator.
Berkshire Pension Fund Advisory Panel
The Berkshire Pension Fund Advisory Panel (“the Advisory Panel”) consists of 5 Elected Members (Councillors), one from each of the other 5 Unitary Authorities in Berkshire, Bracknell Forest Council; Reading Borough Council, Slough Borough Council, West Berkshire Council and Wokingham District Council. The main purpose of the Advisory Panel is to support the Committee in achieving its statutory duties and to provide guidance and advice as appropriate.
Members of the Advisory Panel do not have voting rights but both the Committee and the Advisory Panel meet jointly and so review and discuss all agenda items at the same time.
You can access Pension Committee meeting papers by visiting the Moderngov website.