Glasgow, Senior Officials and Equal Pay
I came across the following document on the internet which explains the governance arrangements for the Strathclyde Pension Fund (SPF) - the fund into which Glasgow City Council must have paid the £120,000 the Council says was necessary to allow its outgoing director of finance, Lynn Brown, to access her pension early.
The document is dated 2016, but readers will note that the Employers' Side Secretary was none other than Lynn Brown.
The document is dated 2016, but readers will note that the Employers' Side Secretary was none other than Lynn Brown.
Yet Glasgow City Council claims to have no records to explain the highly unusual circumstances surrounding the departure of its finance director and the payment of £120,000.
What I don't understand is why the payment of an additional £120,000 was necessary - if the former finance director had the right to apply to retire early (having reached the age of 55), why did the City Council pay an extra £120,000 into Lynn Brown's pension pot?
I think the 'Council Family' deserves an answer to this question, as I'm sure the thousands of equal pay claimants across Glasgow would welcome the same kind of generous treatment.
The Strathclyde Pension Fund Committee is the main decision-making body for the Fund.The Committee Sounding Board reviews proposals before they are considered by the Committee for decision.
The Pension Board assists the Committee in securing compliance with the regulations, other legislationand the requirements of the Pensions Regulator.
The Executive Director of Financial Services is the principal adviser to the Committee.The Strathclyde Pension Fund Office administers the scheme, manages the Fund and implements.
Committee decisions.The actuary provides advice on funding.
The investment consultants provide advice on all aspects of investment objectives, strategy andstructure.
The Investment Advisory Panel develops investment strategy and monitors investment performance.The internal and external auditors review risk, controls, and the financial statements.The investment managers manage the investment portfolios.
Bailie Philip Braat (Convener)
Bailie Norman MacLeod
Councillor Malcolm Cunning
(Vice Convener)
Bailie Allan Stewart
Bailie Elizabeth Cameron
Bailie Dr Nina Baker
Cllr Stephen Curran
Cllr Pauline McKeever
Under its Terms of Reference, the Committee has the power to discharge all functions andresponsibilities relating to the Council’s role as administering authority for the Strathclyde Pension Fund in terms of the Local Government (Scotland) Act 1994 and the Public Service Pensions Act 2013.
SECTION 2 - GOVERNANCE
STRATHCLYDE PENSION FUND COMMITTEE
The Council and the Committee recognise that they have fiduciary duties and responsibilities towards pension scheme members, participating employers and local taxpayers that are analogous to those holding the office of trustee in the private sector. The Committee is comprised of elected members ofGlasgow City Council. Its membership as at 31st March 2016 is shown below.
Committee members may also be scheme members either under the provisions for Councillor membership or as a result of previous service as employee members.
Current committee membership is displayed on our website at: www.spfo.org.uk
COMMITTEE SOUNDING BOARD
Since 2009 the Strathclyde Pension Fund Committee has maintained a working group or Sounding Board drawn from its membership. The main function of the Sounding Board is to review proposals before they are considered by committee for decision – in particular investment proposals for the Direct Investment Portfolio and proposals relating to development of investment strategy.
As at 31st March 2016 the Sounding Board membership comprised:
Bailie Philip Braat (Convener)
Cllr Malcolm Cunning (Vice-Convener)
Bailie Norman MacLeod
STRATHCLYDE PENSION FUND BOARD
The Local Government Pension Scheme (Governance) (Scotland) regulations require each administering authority to establish a board with responsibility for assisting in relation to securing compliance with the regulations and other legislation relating to the governance and administration of the Scheme and with requirements imposed in relation to the Scheme by the Pensions Regulator.
A Pension Board has to comprise an equal number of representatives appointed by scheme employers and relevant trade unions.
As at 31st March 2016 the Strathclyde Pension Fund Board membership comprised:
Employer Representatives
Cllr Andrew Spowart
Cllr Gerry Convery
Cllr Michael Holmes
Mark Dickson
Trade Union Representatives
Andrew Thompson
Stewart Young
James Corry
Robert Gordon
North Lanarkshire Council South Lanarkshire Council Renfrewshire Council Scottish Water
GMB
UCATT Unison UNITE (Chair)
The Joint Secretaries to the Pension Board were:
James Corry (Trade Unions)
Lynn Brown (Employers)
Lynn Brown (Employers)
In accordance with the regulations the Pension Board meets at the same place and time as the Pension Committee to consider the same agenda as the Committee. The Chair of the Pension Fund Committee acts as Chair of that meeting.
