Guidance issued under section 9 of the Local Government Pension Scheme (Governance) (Scotland) Regulations 2015
Following a request from a Pension Board for advice on resolving a dispute between itself and a Pension Committee the SAB established a Working Group to consider the reference and establish the process for taking action in these situations.
Following this process the SAB has decide to issue good practice guidance which we would ask all Scheme Managers and Pension Boards to consider.
- Pension Boards have an oversight function to ensure Pension Committee and Funds comply with regulations and legislation.
- A Pension Board can request a review of a decision by the Pension Committee.
- The grounds for review should be within s.9 (2) of the governance regulations.
- Administering Authorities should have a process in place to ensure any reviews are undertaken in a timely way.
- If a Pension Board wishes to meet to consider a request for a review, this should be facilitated.
- Specific investment decisions are ordinarily the responsibility of the Pension Committee.
- A request for a review may not always prevent that decision from being enacted.