How the pension fund is managed

The Public Service Pensions Act 2013 and the Public Service Pensions Act (Northern Ireland) 2014 require pension boards to be established for public service pension schemes.

The board helps to ensure the scheme complies with governance and administration requirements. It may have additional duties.

The pension board must have an equal number of employer representatives and member representatives and other types of members, such as independent experts. Members of the board have a duty to act in accordance with scheme regulations and other governing documents.

Role of the board

The pension board is responsible for assisting the scheme managers to meet regulations and other legislation relating to the governance and administration of the scheme. The remit of the pension board is contained in the scheme regulations and guidance.

Pension board meetings are formal and minutes are taken. The status of the scheme and associated issues are reviewed and recommendations are made about the scheme governance and administration standards.

Information about board meetings

To show that the scheme is run effectively and efficiently, we publish up to date information on the pension board which is easily accessible to scheme members. The information includes:

• the full terms and conditions for the board
• who the board members are
• how members are represented on the board
• the responsibilities of the board as a whole
• the pension board appointment process
• who each individual pension board member represents