Under the Public Service Pensions Act 2013 by sections 5 (1) and (2) the role of the Pension Board is to assist Southwark Council as Scheme Manager of the London Borough of Southwark Pension Fund (the Fund):
- To secure compliance with the Local Government Pension Scheme (LGPS) Regulations and any other legislation relating to the governance and administration of the Scheme, and any requirements imposed in relation to the LGPS by The Pensions Regulator; and
- To ensure the effective and efficient governance and administration of the London Borough of Southwark Pension Fund.
The Pension Board provides oversight of these matters and, accordingly, isn’t a decision-making body in relation to the management of the Fund. The Fund’s management powers and responsibilities are delegated by the Council to the chief finance officer, acting after taking account of advice from the Pensions Advisory Panel and officers of the Council.
You can view the terms of reference for the Local Pension Board of Southwark Council here.
What does the Local Pension Board (LPB) do?
- It plays a key advisory role in assisting the Council in managing the Fund;
- It ensures that the Council is compliant with LGPS and other relevant regulations;
- It’s made up of seven members, with equal representation of Scheme members and employers; and
- It meets quarterly.
Members of the Southwark LPB are:
- Mike Ellsmore – (Independent Chair)
- Dominic Cain – (Vice Chair) – employer representative
- Allan Wells – employer representative
- Mike Antoniou – schools employer representative
- Tony O’Brien – retired employee representative
- Diana Lupulesc – employee representative
- Stuart Mumford – employee representative
You can view the agendas and minutes from the LPB’s meetings in the Local Pension Board reports section in the Documents library.