Hounslow Council is seeking to appoint an Independent Chair of the Local Pension Board with effect from June 2024.
The London Borough of Hounslow is the administering authority of the Hounslow Pension Fund (the Fund). The Fund has over sixty contributing employers, over 23,000 members and assets of £1.3 billion at 31 March 2024. The Council is seeking to appoint a non-voting Independent Chair to its Local Pension Board. The appointment will be for a period of four years.
Role Summary
The role of the Chair is to provide leadership and direction to the Hounslow Pension Board.
The Chair’s aim is to enable the Hounslow Pension Board to fulfil its responsibilities in respect of the governance of the fund in accordance with the Public Service Pension Scheme Act 2013 (PSPA13), legislation governing the Local Government Pension Scheme (LGPS) and the Code of Practice issued by the Pension Regulator.
You will play an important part in the governance and administration of the Fund. Scheme members, employers and the London Borough of Hounslow, as the Administering Authority (known as the Scheme Manager under PSPA13) for the Fund, will benefit from the work you do in helping to ensure that the Fund is well managed.
The Board’s role is to work closely in partnership and assist the Scheme Manager in relation to the following matters:
- Securing compliance with the scheme regulations and other legislation relating to the governance and administration of the scheme and any statutory pension scheme that relates to it;
- Securing compliance with requirements imposed in relation to the scheme and any connected scheme by the Pensions Regulator;
- Ensuring any breach of duty is considered and followed under the scheme’s procedure for reporting to the Pensions Regulator and to the Scheme Manager;
- Such other matters as the scheme regulations may specify;
- Assisting the Scheme Manager to ensure the effective and efficient governance and administration of the scheme.
You will be expected to use your specific skills, knowledge or experience to help the Hounslow Pension Board reach sound recommendations. This will involve scrutinising board papers, leading discussions, focusing on key issues, and providing
advice and guidance requested by the board in which the Chair has special expertise. In addition to the general responsibilities of a Hounslow Pension Board member, the Chair has other tasks specific to their role.
1. Main Responsibilities of the Chair
- providing leadership for the Hounslow Pension Board in their role of setting the strategy and policy of the board
- planning the annual cycle of board meetings and setting the agendas
- chairing and facilitating the board meetings ensuring that all voices and opinions are heard and judging when consensus is reached
- monitoring that recommendations made at board meetings are implemented
- liaising with the Head of Pensions and other senior staff members to keep an overview of the pension department’s affairs and to provide support as appropriate
- reviewing and appraising the performance of the Board
- to receive timely advice on best practice on all new developments relevant to the LGPS and pensions in general and ensure their compliance as appropriate
- ensuring that the Board’s reporting requirements are met including for example to the Pensions Regulator and the Scheme Advisory Board
- balancing the views and needs of the participating employers and the scheme members
- ensuring that the appropriate equality and diversity rules are adhered to.
2. Training, knowledge and skills development
- ensure that all new Board members fully understand and appreciate their role and responsibilities
- ensure that appropriate knowledge and skills of all Board members are measured, monitored and maintained to have a relevant understanding of pensions law and working knowledge of the LGPS and its documentation.
- ensure that all Board members are developed both as a group and as individuals, to enable them to perform their duties effectively
- ensure that the ongoing training on relevant issues and developments meets the needs of the Board members.
3. Qualities expected of the Chair
- proven leadership skills with the ability to chair meetings
- articulate in writing and speech, including preparing formal papers and speaking at public occasions
- good communication skills
- tact and diplomacy
- willingness to speak one’s mind and listen to the views of others
4. Experience and knowledge
- knowledge and experience of governance or management of work-based Local Government Pension Scheme and the regulatory bodies involved
- a working knowledge of the Local Government Pension Scheme
- an awareness of the practices and policies about the administration of the LGPS including
o Pension fund administration and governance
o Pension fund investment management
o Pension fund liability management - prior experience of committee/trustee work
- the law relating to public sector pensions, particularly the LGPS.
- any matters which are prescribed in regulations.
5. Remuneration, expenses, and allowances
The successful applicant will receive an annual allowance of £6,000 plus relevant travel expenses.
6. Time consideration
The Hounslow Pension Board will meet formally (in person) at least 4 times a year, at Hounslow House, London Borough of Hounslow, 7 Bath Road, Hounslow TW3 3EB. Attendance at training days and ad hoc meetings is also required. These may be remote, or in person. Therefore, the time commitment for a representative is expected to be a minimum of 10 days each year on average.
It is important that the Chair is able to visit the office(s) and be available to the Scheme Manager on a regular basis, contactable electronically or by telephone.
7. Recruitment timeline
Application and further information
Any questions should be directed to Robert Meldrum, Director of Finance Services, at Robert.meldrum@hounslow.gov.uk.
If you are interested in the role, please send a letter of application together with your CV to pensions@hounslow.gov.uk
The closing date for applications is 5th May 2024.
