What this consultation is about
Stakeholders in the Derbyshire Pension Fund (the ‘‘fund’’) have been asked for their comments on the fund’s proposed Statement of Investment Principles.
The fund is maintained for the benefit of the members of the fund. There are approximately 170 employers in the Derbyshire fund, including ourselves who are the administering authority. It also includes 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 90,000 members of Derbyshire Pension Fund; 38,000 active contributing members, 26,000 deferred beneficiaries and 26,000 members in receipt of pensions. Assets of around £3.6bn, within the fund are actively managed, and are spread across a variety of asset classes including equities, bonds, property, alternatives and cash.
The Local Government Pension Scheme (Management and Investment of Funds) Regulations 2009 (the ‘investment regulations’’) require the administering authority to prepare and maintain, after consultation with such persons as it considers appropriate, a written Statement of Investment Principles governing decisions about the investment of the Fund’s money. In line with the investment regulations, the fund has prepared a proposed Statement of Investment Principles, which you can find attached to this page.
The proposed Statement of Investment Principles was approved by the Pensions and Investments Committee on 28 October 2015 subject to consultation. The report submitted to the committee is attached to this page. In line with the investment regulations, the fund invited stakeholders to provide written comments on the proposed Statement of Investment Principles.
The proposed Statement of Investment Principles makes reference to several documents as follows:
- Governance Policy Statement
- Voting Policy
- Funding Strategy Statement
- Annual Report
- Communications Policy
- Actuarial Valuation Report.
These documents can be found attached to this page.
The proposed Statement of Investment Principles also makes reference to the non-exempt Pension and Investments Committee reports and minutes, including fund performance reports.
This consultation is now closed. A report was presented to our Pensions and Investments Committee, 27 January 2016, agenda item number five.