Pensions Committee
Under the relevant Local Authority regulations, Cornwall Council has created a Pensions Committee. The committee exercises its functions as the Administering Authority for the pension scheme.
The functions include the:
- governance of the Fund
- management of the Fund
- administration of the Fund
Local Pension Board
The Local Government Pension Scheme Regulations 2013 requires:
- Cornwall Council to establish a Local Pension Board. The Board assists the Pensions Committee with its statutory responsibilities.
Regulatory Statements
Regulatory statements are available to read on the Investments Regulatory Statements webpages. These are also in the latest Annual Report.
The Fund has a Policy for Reporting Breaches of the Law. The policy explains its procedures on identifying and managing breaches of law. This also includes the process of reporting breaches of the law.
The Fund liaises with both employers and members about the pension scheme. The Communications Policy Statement explains how this is undertaken.
The Fund must achieve and maintain the highest possible data quality standards. This is to comply to its core functions and to ensure the cost-effective use of resources. Basing it on high quality data, valuations and effective decisions can take place. The Fund maintains a Data Improvement Strategy and Plan which is regularly reviewed and subject to Pensions Committee approval.
Scheme Advisory Board
The Local Government Pension Scheme Advisory Board was set up under:
- the Public Service Pensions Act 2013
- the Local Government Pension Scheme Regulations
It will consider items passed to it from:
- the Ministry of Housing, Communities and Local Government (MHCLG),
- the Board's sub-committees,
- other stakeholders
Pension Fund Risk Register
Identified risks are documented in the Risk Register which is maintained by Officers and reviewed and updated on a quarterly basis.