We have partnered with the LGPS pension funds of Cheshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, Worcestershire and West Midlands to form a collective investment pool, known as LGPS Central Pool (the pool), in accordance with government requirements for the pooling of LGPS investment assets.
The governance arrangements of the pool include the following bodies.
To provide oversight of the delivery of the objectives of the pool, the delivery of client service, the delivery against the LGPS central business case and to deal with common investor issues, the joint committee provides assistance, guidance and recommendations to the individual councils, taking into consideration the conflicting demands and interests of the participants within the pool. The joint committee does not have delegated authority to make binding decisions on behalf of the participating councils.
Membership of the joint committee consists of one elected member from each participating council. The vice chair of the Pensions and Investments Committee represents Derbyshire on the LGPS Central Joint Committee.
The clerk to the joint committee is the head of paid service or nominee of Cheshire West and Chester Council.
You can find meeting papers and minutes for the joint committee on the Cheshire Pension Fund website.
To oversee the operation and performance of LGPS Central Ltd and to represent the ownership rights and interests of the shareholding councils with the LGPS Central Pool. Collective shareholder discussions take place in the Shareholders’ Forum and aim to ensure that the councils act in a unified way in company meetings, having agreed to a common set of principles. Unanimous decisions are required for certain reserved company matters.
Shareholder Forum meetings are distinct from LGPS Central Ltd company meetings, however members of the Shareholders’ Forum also represent the councils at company meetings.
Membership of the Shareholders’ Forum consists of one representative from each council.
The chair of the Pensions and Investments Committee represents Derbyshire at the Shareholders’ Forum and at LGPS Central Ltd company meetings.
Decisions are made in advance of the Shareholders’ Forum and company meetings to enable the council’s representative to vote at these meetings. Wherever possible, any matter regarding LGPS Central Ltd which requires a shareholder decision will be taken to the Pensions and Investments Committee for consideration.
Where the timetable does not allow for this, decision making is delegated to the Director of Finance and Information and communications technology (ICT) following consultation with the Chair of the Pensions and Investments Committee.
Practitioners’ Advisory Forum
A working group of officers appointed by the shareholding councils within the pool to support the delivery of the objectives of the pool and to provide support for the pool’s joint committee and Shareholders’ Forum.
The Director of Finance and ICT, the Head of Pension Fund and the Investments Manager represent Derbyshire on the Practitioners’ Advisory Forum as required.
Links to useful documents