The Pensions Committee oversees the proper operation of the London Borough of Lambeth's Pension Fund, ensuring compliance with regulations and best practices. It handles benefits administration, dispute resolution, member and employer communications, risk monitoring, and record-keeping.
The committee reviews the draft annual statement of accounts and approves the audited Pension Fund Annual Report and Financial Statements. It also participates in investment pooling arrangements and assesses employer covenants and contributions. The committee's role is to assist the Administering Authority in securing compliance and ensuring effective governance and administration of the pension scheme, making recommendations to the Board.