Governance

The Warwickshire Pension Fund is managed in a collaborative way. This means that the decision-making powers are delegated to the Pension Investment Sub-Committee who take regulated advice from external professionals. These external professionals consist of the Scheme Actuary and their team, the Investment Consultancy, and the Independent Advisor(s). It is the Fund’s officers, in collaboration with these external bodies who propose the agenda for each quarterly Investment Sub-Committee meeting and agree this in advance with the Chair. Papers are presented by a mixture of officers, consultants and third-party providers such as investment managers or custodians.

The quarterly Staff and Pensions Committee meetings receive papers relating to the administration and regulation of the Pension Fund. These papers are drafted by officers, with external support from the Scheme Actuary and team, as well as other external bodies where relevant.

The Local Pension Board is approximately six weeks after the Investment Sub-Committee and Staff and Pensions Committee (which are on the same day, morning and afternoon respectively). Papers for the Local Pension Board tend to be copies of or extracts from the papers that went to the Investment Sub-Committee or Staff and Pensions Committee. These are prepared by Fund officers with external support where required. Occasionally, the Local Pension Board asks for the views of a third party directly.