Local Pension Board

Terms of reference

In line with the requirements of the Public Services Pensions Act 2013 for the management of the City of London Corporation’s Pension Scheme, to be responsible for:

• assisting the Scheme Manager (the City of London Corporation) in the following matters:

1. 1. Securing compliance with the scheme regulations and other legislation relating to the governance and administration of the scheme and any statutory pension scheme that it is connected to;
   2. Securing compliance with requirements imposed in relation to the scheme and any connected scheme by the Pensions Regulator; and
   3. Other such matters as the scheme regulations may specify.

• securing the effective and efficient governance and administration of the LGPS for the City of London Pension Fund

The Local Government Pensions Board will ensure it effectively and efficiently complies with the code of practice on the governance and administration of public service pension schemes issued by the Pension Regulator.

The Local Government Pensions Board will also help ensure that the City of London Corporation Pension Fund is managed and administered effectively and efficiently and complies with the code of practice on the governance and administration of public service pension schemes issued by the Pension Regulator.

The Pensions Board shall meet at least two times per year.

The Local Pension Board must have an equal number of employer representatives and scheme member representatives. 

Scheme member and employer representatives are appointed to the board for a term of four years. The members of the board as at, July 2025 are as follows:

Employer representatives

• Mark Wheatley (Chairman)
• Paul Wilkinson
• (Vacancy)

Scheme member representatives

• Christina McLellan
• David Pearson
• Peter Lisley (Deputy Chairman)

 

Board members can seek reappointment at the end of their term. Where a vacancy becomes available, and if you were interested in being considered as a scheme member representative, these would be advertised accordingly, and a recruitment process would follow.

The Local Pension Board is an advisory Board and does not have decision making powers. In line with the requirements of the Public Services Pensions Act 2013 for the management of the City of London Corporation’s Pension Scheme, the Board is responsible for assisting the Scheme Manager (the City of London Corporation) in the following matters:

a)      Securing compliance with the scheme regulations and other legislation relating to the governance and administration of the scheme and any statutory pension scheme that it is connected to;

b)      Securing compliance with requirements imposed in relation to the scheme and any connected scheme by the Pensions Regulator; and

c)      Other such matters as the scheme regulations may specify.

 

The Board is a non-Ward Committee and reports to Court of Common Council on any issues of non-compliance or other issues for requiring escalation.