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Governance

Under the relevant Local Authority regulations, Cornwall Council has created a Pension Committee. The committee exercises its functions as the Administering Authority for the pension scheme. The functions include the governance, management and administration of the Cornwall Pension Fund.

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.

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Regulatory statements are available to read on the Investments Regulatory Statements webpages. These are also in the 2018-2019 Annual Report.
The Fund has a Policy for Reporting Breaches of the LawThe 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 decision can take place. In January 2020, the Pension Committee approved the Data Improvement Strategy and Plan.
 
 
  • the Public Service Pensions Act 2013
  • the Local Government Pension Scheme Regulations 
It will consider items passed to it from:
  • the Department of Communities and Local Government (DCLG),
  • the Board's sub-committees,
  • other stakeholders