Regulation 55 of The Local Government Pension Scheme Regulations 2013 requires the administering authority to prepare a Governance Compliance Statement.
|Description of principle||Kent Pension Fund's position|
The Superannuation Fund Committee exercises all of the powers and duties of Kent County Council as the administering authority for the Kent Pension Fund.
The matters the Committee is responsible for include:
Membership of the Committee is drawn from the County Council as well as other scheme employers and member representatives. All representatives receive appropriate training and development.
Committee Membership and Representation
Committee members serve for a 4 year term.
The Committee consists of 17 members; 13 employer representatives and 4 member
Of the employer representatives 9 are drawn from the County Council, 3 are nominated by the 12 district councils and Medway Council has 1 representative.
Of the 4 member representatives Unison and KCC staff have 1 representative each and the Kent Active Retirement Fellowship has 2 representatives.
The Fund’s investment advisors, Mercers, attend the Committee meetings as required and facilitate workshops on any significant changes to investment strategy.
All members of the Committee are treated equally in terms of access to papers and meetings, as well as training and are given full opportunity to contribute to the decision making process, with or without voting rights.
Selection and role of lay members
On appointment all Committee members are made fully aware of the status, role and function they are to perform.
All members of the Committee have signed an undertaking to comply with the Code of Member conduct set out in appendix 6 of the KCC constitution.
At the start of each meeting Committee members are invited to declare any related financial or pecuniary interest in any matters on the agenda.
All 13 employer representative members have full voting rights in the Committee. Non voting members are able to engage in and contribute to decision making.
The voting rights of Superannuation Fund Committee members are regularly reviewed, the most recent review being October 2017.
Training / Facility time / expenses
Arrangements for training, facility time and expenses of Committee members are described in the Kent County Council constitution. This policy applies equally to all Committee members.
The Fund's training policy was updated in November 2019.
All additional costs of attending training courses are reimbursed from the Fund.
Meetings - Frequency
The Superannuation Committee usually meets 5 times year.
The Pensions Forum meets twice a year for all employers focussing on administration issues.
All Committee members have access to committee papers, documents and advice that fails to be considered at meetings of the Committee.
Meeting papers are also available on the KCC and Kent Pension Fund websites.
The Committee monitors the administration of the pension scheme and determines pension fund policy in regard to employer admission arrangements.
Details of all Committee meetings are available on the Kent County Council website including all unrestricted committee papers.
Local Pension Board
A local pension board (the Board) was established in 2015 in accordance with regulation 106 of the LGPS 2013 regulations. Its purpose is to assist us as the Administering Authority for the Kent Fund to secure compliance with the 2013 regulations and to ensure the effective and efficient governance and administration of the scheme.
The Board is composed of
- 8 members
- 4 employer representatives
- 4 member representatives.
Board members serve for a 4 year term.
Of the employer representatives
- 2 are drawn from the County Council
- 1 is nominated by the 12 district and Medway councils, and
- 1 is nominated by the other employers.
Of the 4 member representatives there is
- 1 trade union representative
- 1 KCC staff representative
- 1 representative of Medway and district councils, and
- 1 representative of the Kent Active Retirement Fellowship.
The Chair of the Board is a Kent County Council (KCC) elected member and the Vice Chair is elected by the Board.
The Board will meet quarterly with secretarial support provided by KCC Democratic Services. Find out about the board meetings including unrestricted meeting papers
All representatives receive appropriate training and development and all costs of attending meetings and additional costs of attending training courses are reimbursed from the Fund.