Pension Fund & Investment
In this section you will find information about London Borough of Ealing's Pension Fund and Investments, along with details of the Council's Statement of Investment Principles (SIP) and Funding Strategy Statement (FSS).
Consultation: LGPS 2014 - Draft Regulations
Draft regulations on membership, contributions and benefits
A consultation is now being held as the draft regulations for the new Local Government Pension Scheme (LGPS) have now been published; these draft regulations are in line with anticipated new LGPS 2014 principles.
This consultation seeks responses from interested parties on the draft regulations for the new LGPS to come into force in April 2014. This consultation only covers the core elements of the new scheme, in particular, the provisions relating to membership, contributions and benefits.
A second consultation exercise covering the remainder of the new scheme will follow shortly.
The closing date for receipt of responses to the consultation is the 8th February 2013. All interested parties are encouraged to respond.
Statement of Investment Principles
London Borough of Ealing's Statement of Investment Principles can be viewed as part of the
Annual Report document.
The Local Government Pension Scheme (Management and Investment of Funds)(Amendment) Regulations 1999 require administering authorities to prepare and review from time to time a written statement recording the investment policy of the Pension Fund. This statement has been produced to indicate compliance with the 10 principles set out by the Government following the Myners review and satisfies the requirements of the regulations.
The Statement of Investment Principles will require updating from time to time. All amendments to this document must be approved by the Pension Fund Panel.
Funding Strategy Statement
London Borough of Ealing's Funding Strategy Statement can be viewed as part of the Annual Report document.
The purpose of the Funding Strategy Statement (FSS) is to establish a clear and transparent fund specific strategy which will identify how employers' pension liabilities are best met in future years, to keep their contribution rates as nearly constant as possible and to take a prudent longer-term view of funding those liabilities.
The Funding Strategy Statement sets out the responsibilities of key parties to the fund, identifies risks to the fund and counter-measures and covers solvency issues and target funding levels as well as other fund strategy issues. This statutory document must be produced by all administering authorities for their admitted bodies.
Governance Policy & Compliance Statement
London Borough of Ealing's Governance Policy & Compliance Statement can be viewed as part of the Annual Report document.
The Local Government Pension scheme (Administration) Regulations 2008 – Regulation 31 and its predecessor, Regulation 73A of the LGPS Regulations 1997 (as amended), requires Local Government Pension Scheme (LGPS) Administering Authorities to publish Governance Compliance Statements. It also requires the Authority to keep the statement under review and to make revisions as appropriate and where such revisions are made to publish a revised statement.