The Local Government Pension Scheme (Governance) (Scotland) Regulations 2015

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations include provisions relating to the establishment of a Scheme Advisory Board and pension boards for the purposes of the Local Government Pension Scheme.

Regulation 2 establishes the Scheme Advisory Board whose main functions are (a) to provide advice to the Scottish Ministers on the desirability of changes to the Scheme; and (b) to provide advice to the scheme managers or the Scheme’s pension boards.

Regulation 3 provides for the constitution of the Scheme Advisory Board, providing that it must have equal representation on it of 7 scheme employer and 7 relevant trade union representatives chosen by their respective organisations.

Regulation 4 provides against conflicts of interest of members of the Scheme Advisory Board.

Regulation 5 provides for the establishment for each scheme manager of a Pension Board with responsibility for assisting the scheme manager.

Regulation 6 provides for the constitution of pension boards, again with equal representation of Scheme employers and relevant Trade Unions.

Regulation 7 provides against conflicts of interest of members of pension boards.

Regulation 8 sets out the remit of pension boards.

Regulation 9 provides for a process of review in case of a disagreement on certain matters between a Pension Board and a Pension Committee.