Governance Structure
The Council has set up a Pensions Committee to control and resolve all matters relating to the administration and investment of the Fund.
The Council Constitution governs the actions of the Committee and its Officers.
The actions of the Committee are reviewed and scrutinised by the Jobs and Enterprise, Regeneration and Resources and Culture and Well-being Select Committee.
The Committee is comprised of councillors from South Tyneside Council and the other four Tyne and Wear councils. There are also representatives nominated by the employers (other than the five councils) and the trade unions who represent scheme members.
Formal monitoring of the investment of the Fund is undertaken by an Investment Panel which comprises of the Chair and Vice Chair of the Committee, another nominated member of the Committee, the External Investment Advisor, the Head of Pensions and the Assistant Head of Pensions (Investments).
If the Committee accepts a Panel recommendation to change the investment objectives or policy, or the management structure, the Committee will then require the Panel to implement that change. A formal review of a manager’s appointment will generally result in a tendering process.
The current Governance Compliance Statement was adopted in February 2010. Please click below to view the statement.
