Have you considered joining a Board and interested in developing your leadership and business skills? Do you want to help shape the future of a multi-award winning LGPS pension fund? Can you communicate well with others and form stakeholder relationships?

Then the Lothian Pension Fund Pension Board needs you!

We are looking for committed individuals from diverse backgrounds to join the Pension Board as an Employer Representative and be part of a values driven organisation as we continue to invest in improvements. We would particularly welcome applications from those groups who are currently under-represented at a Board level.

At Lothian Pension Fund we are values driven

• We are agile and dependable
• Our colleagues are self-motivated and team players
• We strive to be innovative and prudent
• We embrace challenge and are respectful

If these resonate with you and you have the time and expertise to support us in our efforts as a sector leading organisation, we would love to hear from you.

Candidates eligible to apply for the Employer Representative role will be drawn from LPF’s Employer bodies (a list of all employers is available on page 115 of our annual report). This would make an ideal opportunity for someone looking to develop board member/trustee experience.

The role

• To provide independent scrutiny and sound judgement, providing challenge and support to ensure the Pensions Committee delivers on its strategic, business, and financial targets.
• Uphold high standards of integrity and probity whilst representing the scheme members and employers of the Lothian Pension Fund.
• Support the Pension Board chairperson in assisting the Pensions Committee to instil the appropriate culture, values and behaviours.
• Have oversight of Pensions Committee assurance models and compliance with requirements imposed in relation to the scheme and by the Pension Regulator.
• Ensure the integrity of financial information and that financial controls and systems of risk management are robust and defensible.
• Consider any reports produced for the Pensions Committee, including the annual report, fund performance and administration, actuarial report and valuations and the fund strategy.
• Devote time to developing and refreshing your knowledge and skills.

What you will get in return

• Great professional development
• Tailored induction programme and training opportunities
• A mentor to help navigate the first couple of meetings
• Opportunity to enhance you network and knowledge as a member of a Board in a welcoming environment
• Satisfaction in giving something back
• Out of pocket expenses (such as travel expenses)
• Option of hybrid meetings to accommodate other commitments.

Time Commitment

• Completion of initial induction programme and ongoing training (mix of in-person and online) to help you develop in your role.This includes 4 LPF training sessions, held quarterly and typically 3 hours each.
• Attendance at 4 Pension Board & 4 Pensions Committee meetings per year.(These meetings are typically held on the same day quarterly plus reading and preparation time
• Any other adhoc meetings and training opportunities.

About LPF

Lothian Pension Fund (LPF) is an award-winning asset backed and multi-employer scheme with around £10 billion of assets. We administer the Local Government Pension Scheme (LGPS) in Edinburgh and the Lothians. As the second largest LGPS fund in Scotland, we serve over 90,000 members and around 60 employers, helping local government workers and their families experience a financially secure retirement. We also manage the Scottish Homes Pension Fund on behalf of the Scottish Government.

LPF is clear in its vision to deliver outstanding pension and investment services. We aspire to be the best LGPS in Scotland, if not the UK.

Core to our purpose, we’re proud to have won the LGPS Fund of the Year at the LAPF Investment Awards in 2023. In 2017, we also became the first UK Local Government pension fund awarded accreditation for the Pensions Administration Standards Association and have held the Customer Service Excellence Award for over ten years.

LPF is unique in Scotland in operating a FCA-regulated investment company, LPFI Limited. We manage over 85% of assets in-house via internal equity, bond and other real asset portfolios (e.g. infrastructure, property and timberland investments). The day-to-day running of LPF is carried out by a specialist team who undertake pension administration, accounting and investment functions. LPF colleagues are employed by an arms-length company, LPFE Limited.

LPF has a Pensions Committee and a Pension Board, both of which play an integral part in our success. The Pensions Committee determines the overall policy objectives, strategy and operation of the LPF and Scottish Homes Pension Fund in accordance with relevant legislation and in the best interests of the members and employer bodies within the pension funds.

The Pension Board is made up of five employer and five member representatives and plays a vital role in providing oversight and assists the LPF Pensions Committee in ensuring compliance with Pension legislation and the Pension Regulator code of practice.

Darren May, Scottish Water, is our current Chair of the LPF Pension Board, and talks about the experience he’s gained as a member and opportunity to learn. See below for his Blog.

Find out more about being a Pension Board member at LPF | LothianPensionFund