Local Pension Board
The Local Pensions Board has been in operation for nearly three years and provides a unique opportunity for members and employers in the scheme, and other suitably qualified individuals, to become more involved with the oversight of the London Borough of Redbridge Pension Fund. We are now seeking expressions of interest from Pension Scheme employee members who are interested in the role. We are also seeking an independent individual to serve as Chair of the Board.
Key features of the Local Pension Board
- The Pension Board has an oversight role, and assists the Council, who are the Administering Authority for the Pension Fund, to secure compliance with Pension Regulations and to ensure the effective and efficient governance and administration of the LGPS;
- It is representative and contains 2 member representatives, 2 employer representatives and 1 non-voting independent Chair;
- Normal Terms of Office is 3 years;
- Board meetings will take place at least 4 times a year at Redbridge Town Hall;Members of the Pension Board should be willing to attend induction / training sessions to ensure that they acquire / maintain the required level of knowledge and understanding necessary to carry out their role on the Board;
- The member and employer representative roles are not remunerated but a travel and subsistence allowance will be paid.