Who Runs The Pension Fund
Who runs the Pension Fund
Whilst day to day work is carried out by fully trained pension staff, overall responsibility for the North East Scotland Pension Fund has been delegated to the Fund's Pensions Committee which carries out a role similar to that of trustees. The Committee is the key decision maker for all matters regarding administration and investment management.
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Pensions Committee
Aberdeen City Council, as the administering authority, has delegated responsibility for the administration of the Pension Fund to the Pensions Committee. The Committee carries out a role similar to that of the trustees of a private sector pension scheme and is the key decision maker for all matters regarding administration and investment management.
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Pension Board
Each pension fund in the LGPS is required to establish a Pension Board. The Board is responsible for assisting the Scheme Manager (Aberdeen City Council) in relation to compliance with Scheme regulations and the requirements of the Pensions Regulator.
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Administration
Day to day administration is overseen by six dedicated teams; Accounting, Benefit Administration, Employer Relationship, Governance, Investment and Technical.