Pensions Committee Member

Thank you for your interest in applying to become a Member of the Lothian Pension Fund s (LPF) Pensions Committee, which is hosted by its administering authority the City of Edinburgh Council (CEC). As one of our Pensions Committee Members, you would play an essential role in ensuring that the pension fund has strong governance in place now and in the future. Acting in the best interests of the members and employer bodies of the pension funds, the Pensions Committee (Committee) exercises oversight of LPF and, for example, determines the overall policy objectives and strategy, and monitors the overall performance of LPF and the Scottish Homes Pension Fund in accordance with its separate statutory remit. It also, for example, oversees the effective management and administration of pension funds and determines the strategy for the investment of pension fund monies. We are seeking applications for the Committee s two external, non-elected, member seats. One of these is drawn from LPF s membership and the other from LPF s employer bodies. Although each member is sourced from those stakeholder groups, importantly they will be required to act in accordance with their separate duty to all the stakeholders of the pension funds collectively and are not appointed to represent one particular group. About LPF LPF administers the Local Government Pension Scheme (LGPS) in Edinburgh and the Lothians and is one of the largest pension funds in the UK. We re a multi-employer scheme with around 10 billion assets and are over 157% funded as at our most recent actuarial valuation serving 79,000 records attributable to 81,500 members from 67 employers across a broad range of sectors. We also manage the Scottish Homes Pension Fund on behalf of the Scottish Government. This is a closed fund and has 1,550 deferred and pensioner members with 0.16 billion investments. LPF is unique in Scotland in operating an established FCA regulated in-house investment team. We manage over 85% of the fund s assets via internal equity, bond and other real asset portfolios (e.g. infrastructure, property and timberland investments). We also work closely with other LGPS funds delivering investment management and strategic investment advisory services across their portfolios (e.g. equities, bonds, private markets, and listed and indirect property investments). In March 2017, we became the first UK LGPS awarded accreditation for the Pensions Administration Standards Association and we re proud to have held the Customer Service Excellence Award for over fifteen years. The day-to-day running of LPF is carried out by a specialist team who undertake pension administration, accounting and investment functions. LPF colleagues are employed by an arms-length company, LPFE Limited (LPFE), which is wholly owned by CEC. The opportunity We re seeking applications for two external, non-elected, Committee seats; one drawn from LPF s employer bodies (Employer seat) and one from LPF s membership (Employee seat). Committee membership is made up of five elected (Councillor) members of the CEC and two external, non-elected, members for which nominations are currently being sought. To be eligible to apply for the role of external Committee Member Employee seat, you need to be either an active, deferred or retired member of the LPF. To be eligible to apply for the role of external Committee Member Employer seat, you need to work within an employer body that participates in the Fund and be nominated by your employer. , None specified

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Lothian Pension Fund administers the Local Government Pension Scheme (LGPS) in Edinburgh and the Lothians. We’re a multi-employer scheme and are the second largest LGPS fund in Scotland.