What this consultation is about
Stakeholders in the Derbyshire Pension Fund (the “fund”) are being asked for their comments on the fund’s proposed Investment Strategy Statement.
The fund is part of the national Local Government Pension Scheme (LGPS) which was set up to provide retirement and death benefits for local government employees, and those employed in similar or related bodies, across the whole of the UK. There are approximately 190 employers in the Derbyshire fund, including us who are the administering authority. Other employers in the Fund include Derby City Council, all the district and borough councils in Derbyshire, Peak District National Park, Derbyshire Police Authority, Derbyshire Fire Authority, Derby College, Chesterfield College, University of Derby, a host of town and parish councils and a large group of smaller employers via admission agreements.
There are currently 94,000 members of Derbyshire Pension Fund; 34,500 active contributing members, 33,000 deferred beneficiaries and 26,500 members in receipt of pensions. Assets of approximately £4.0bn within the fund are actively managed and are invested across a range of asset classes, including equities, bonds, property, alternatives and cash.
The Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016 (“the investment regulations”) require the administering authority, after taking proper advice, to formulate and publish an investment strategy which will govern the decisions about the investment of the fund’s money. The administering authority is required to consult such persons as it considers appropriate as to the proposed contents of its investment strategy.
In line with the investment regulations, an Investment Strategy Statement has been prepared and was presented to the Pensions and Investments Committee (“the committee”) on 7 February 2017. The proposed statement was approved by the committee subject to consultation. Stakeholders are now invited to provide written comments on the proposed Investment Strategy Statement which is attached to this page together with the relevant committee report.
Derbyshire’s Funding Strategy Statement which is referenced in the proposed Investment Strategy Statement is also attached to this page. The Funding Strategy Statement was approved by the Pensions and Investments Committee on 7 February 2017, subject to consultation.
This consultation is now closed. The Derbyshire Pension Fund Investment Strategy Statement was approved by the Pensions and Investments Committee at its meeting on 20 March 2017.