PURPOSE OF REPORT

1 To present to members of the North Wales Fire and Rescue Authority (the Authority) the Terms of Reference for the Local Pension Board covering the 2021/22 financial year.

EXECUTIVE SUMMARY

2 The Public Service Pensions Act (2013) requires the Authority in its capacity of Scheme Manager for the Firefighters’ Pension Schemes to establish a Local Pension Board (the Board). The Board was established in 2015 and the Terms of Reference provide the governance framework to ensure its effectiveness. The Terms of Reference are updated annually at the start of each financial year and are attached at Appendix 1.

RECOMMENDATION

3 That Members approve the revised Terms of Reference of the Local Pension Board for 2021/22, prior to publication on the Authority’s website.

OBSERVATIONS FROM THE LOCAL PENSION BOARD

4 The proposed Terms of Reference were considered by the Local Pension Board (Board) at its meeting of 21 April 2021. The Board recommended approval by the Authority.

BACKGROUND

5 The Local Pension Board (the Board) is established in accordance with the requirements of Section 5 of the Public Service Pensions Act 2013. The North Wales Fire and Rescue Authority (the Authority) is deemed to be the Scheme Manager and is, therefore, responsible for establishing the Board and ensuring its effective operation.

INFORMATION

6 Each Scheme Manager is required to determine the Terms of Reference of the Board to provide a framework for its operation.

7 The Terms of Reference are reviewed annually or following any statutory or regulatory changes.

IMPLICATIONS

Wellbeing Objectives Considered not relevant
Budget No cost implications
Legal The new governance requirements around pensions were introduced as a result of the Public Service Pensions Act 2013.
Staffing Considered not relevant
Equalities/Human Rights/
Welsh Language It is not considered that there are any issues that need addressing as the recommendations apply equally to all Members regardless of protected characteristics under the Single Equality Act.
Risks All FRAs need to comply with the guidance provided by the Pensions Regulator around the governance arrangements for Local Pension Boards.