Compliance Documents

LPFA's compliance activities go further than pensions administration. See below for information on key risks, how fraud is managed and how we have a positive impact on the environment.

 

Risk Management

LPFA’s risk appetite statement is as follows:

As an appointed body responsible for the proper and prudent management of public monies, and the administration of a public sector pension scheme, the LPFA:

  • is risk averse in terms of ensuring legal compliance, eradicating all forms of unfair discrimination, maintaining financial integrity and achieving effective delivery of operations; and
  • has a greater appetite, in a controlled environment, for risk when pursuing new business development and attempting to maximise investment returns, having regard to its fiduciary duty acting in the long term best interests of fund stakeholders.


Fraud Control Framework

LPFA’s Fraud Control Framework sets out the Authority’s approach and commitment to fraud prevention and detection. LPFA recognises that its reputation for financial probity must be protected, and as part of that operation putting in place measures to tackle fraud and corruption is vital. This document also recognises the responsibilities of staff and contains an annual action plan to raise fraud awareness.



Information Security Policy

Following LPFA’s collaboration with Lancashire County Council in April 2016, LPFA has outsourced the majority of its functions to the Local Pension Partnership Ltd (“LPP’’) under a Service Level Agreement, one being the Information Security Management System (ISMS) set up in line with the ISO 27001:2013 Standard. The ISMS is subject to continuous, systematic review and improvement to ensure the confidentiality, integrity and availability of all information and information processing facilities.
 
LPFA’s Information Security Compliance Statement largely mirrors LPP’s Information Security Policy which is reviewed at least annually to respond to any significant changes that might have an impact on LPFA’s strategy and objectives.
 


Environmental Policy

LPFA’s Environmental policy statement outlines the funds focus on environmental matters from an operational perspective.

This statement, along with the procedures which sit underneath it, will be regularly reviewed to provide a framework for the LPFA to comply with existing environmental requirements and any future legislative or regulatory developments. LPFA seeks excellence in every aspect of environmental management and remains committed to minimising the environmental impacts of our business operations. The LPFA have engaged the services of Planet Mark to work with the fund on continuously improving our sustainability and to measuring and reducing our carbon footprint on an annual basis.   

For further information related to our approach to responsible investment and our climate change policy, please click here.



Health & Safety Policy

This statement is issued in accordance with the requirements of the Health and Safety at Work, etc. Act 1974 and to incorporate the new health and safety legislation introduced from January 1993.