Terms of Reference
1. For Members of the Council to act as Trustees of the Fund.
2. To have delegated powers to manage the investments of the Fund within the requirements of the appropriate Local Government Pension Scheme Regulations as amended from time to time.
3. To manage the Fund in accordance with the Management Agreement:
(i) to ensure that the Fund complies with the appropriate Local Government Pension Scheme Regulations, the Inland Revenue requirements for Pension Funds and any other relevant statutory provision.
(ii) the selection, appointment and dismissal of investment managers, scheme administrators, independent advisors and ad hoc advisors.
(iii) the formulation of investment strategy and risks strategy for the Fund under its stewardship, after receiving advice from its independent advisors and the Head of Investments and Treasury Management.
(iv) Setting investments targets and monitoring the investment performance and financial control of the Funds' assets and commissioning the preparation of actuarial valuations and accounts.
(v) Ensuring that value for money is achieved from all the specialists supplying services to the Fund through a competitive and qualitative selection process and through budgetary control.
(vi) Commissioning any actuarial valuation and taking appropriate action in the light thereof.
(vii) Receiving and agreeing the annual report and accounts.
(viii) Ensuring effective communication with scheme members and pensioners.
(ix) Receiving and dealing with general complaints from scheme members and pensioners.
(x) To determine the exercise of the discretions allowed to the administering authority, as laid down in the appropriate Local Government Pension Scheme Regulations.
(xi) Any other responsibilities delegated to it by the Authority.
(xii) To submit an annual report to Council.
|Councillor S E Bloundele (Lab)||(Chair)|
|Councillor J Rostron (Lab)||(Vice-Chair)|
|Councillor J Beall||(Stockton Council Member)|
|Councillor R Brady (Lab)|
|Councillor D P Coupe (Con)|
|Councillor S Dean (Lab)|
|Councillor L Lewis (Lab)|
|Councillor C Massey||(Redcar and Cleveland Council Member)|
|Councillor L McGloin (Ind)|
|Councillor G Purvis (Lab)|
|Councillor M Walters (Lab)|