- 2018 National Retired Members Conference
- 15 June 2018
- Carried as Amended
Retired members form a significant minority of the present members in the Local Government Pension Scheme. For instance, in Cambridgeshire there were 24,854 active members and 14,991 pensioner members as at 31 March 2017. This pattern is replicated across the country.
The formation of CIVs (Joint Pension Investment Pools) gives no opportunity at present, for this significant group of members to partake in the future governance of their investment.
The Local Government Minister Marcus Jones MP said in answer to a parliamentary question when the governance of the CIVs were under discussion “I assure Hon. Members that there is an opportunity for trade union representation on pools. That is a matter for the individual pools themselves and depends on their governance arrangements, but the individual local authority members that support each scheme will have the right to be part of setting up those pooling governance arrangements and it will therefore be their decision on whether union representatives are on the pools”.
Recently the Northern Powerhouse CIV – one of the largest and most powerful of the eight CIVs – was the first to announce Membership representation on its Managing Group including a seat for a retired Member representative.
Conference instructs the National Retired Members’ Committee to consult fully with the National Executive Council and the Scheme Advisory Board to request and encourage this representation decision to be replicated on all the other CIVs.