To
consider approval and act in accordance with statutory Pension Fund
documents:
·
Statement of Investment Principles
·
Funding Strategy Statement
·
Governance Policy Statement
·
Pension Administration Strategy
·
Communication Policy Statement
To
review the above documents at least triennially, or more frequently
if advised by the Chief Finance Officer of the need to do
so
To
meet review and consider approval of the Pension Fund Statement of
Accounts, income and expenditure and balance sheet or record of
payments and receipts
To
receive and consider approval of the Pension Fund Annual
Report.
To
appoint independent investment advisors.
To
appoint Pension Fund investment managers.
To
appoint Pension Fund actuaries.
To
appoint a performance management company.
To appoint
custodians.
To
review and challenge at least quarterly the Pension Fund investment
managers’ performance against the Statement of Investment
Principles in general and investment performance benchmarks and
targets in particular. One of these
meetings to be the annual review, at which the representative from
the council’s performance management organisation attends to
comment on the relative performance of the fund
managers.
To
consider actuarial valuations and their impact on the Pension
Fund.
Detailed responsibilities of the
Pension Fund Committee, including a complete list of the
Committee’s powers and duties) can be found in the
Constitution under Part 2B Terms of
Reference of Committees and the Part 3C
- Committee
Procedure Rules