OUR POLICIES AND PROCEDURES

ADMISSION AND CESSATION POLICY

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The purpose of this policy is to outline how LPFA will manage new employer admissions and cessations in the Fund.

CLIMATE CHANGE POLICY

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Our Climate Change Policy outlines the approach that we, working with our outsourced investment manager, LPPI, take in managing the risks of climate change.

COMMUNICATIONS POLICY STATEMENT

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The Communications Policy Statement describes how we communicate to our members, stakeholders, employers and potential members of the Fund.

COMPLAINTS IDRP

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Customer service is important to us. The LPFA and our outsourced pensions administration service provider, LPPA, want to ensure that LPFA member and employer complaints are dealt with in a fair and transparent manner. Members and employers have the right to have their complaint independently reviewed under the Internal Disputes Resolution Procedure (IDRP). Further information can be found on in the members’ section of this website.

CONSTITUTIONAL DOCUMENT

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We operate in accordance with our own legal constitutional document. This constitutional document sets out the corporate governance arrangements of how the LPFA operates, how decisions are made and the procedures which are followed to ensure that decision-making is transparent and accountable.

CONTRIBUTION REVIEW POLICY

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This document sets out our policy on amending the contribution rates payable by an employer (or group of employers) between formal Funding valuations.

EMPLOYER RISK MANAGEMENT FRAMEWORK

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This framework outlines how LPFA identifies, assesses, and manages the risk of an individual employer being unable to make payments to the Fund when required.  

ENVIRONMENTAL POLICY

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The LPFA seeks to minimise our impact on the environment. Our Environmental Policy Statement outlines the Fund’s approach to our operations. We work with Planet Mark to continuously seek to improve our sustainability and to measure and, where possible, reduce our carbon footprint. For more information about our approach to responsible investment and our climate change policies, please click here.

EQUAL OPPORTUNITIES, DIVERSITY AND DIGNITY AT WORK POLICY

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We are committed to providing equality of opportunity and access in both our employment and service arrangements. Our Equal Opportunities, Diversity & Dignity at Work Policy sets out our guiding principles, roles and responsibilities.

FRAUD CONTROL FRAMEWORK

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Our Fraud Control Framework sets out the LPFA’s approach and commitment to fraud prevention and detection. The framework is a summary of our approach to the management of fraud prevention, detection and reporting. Codes of practice, procedures and policies are also available separately. As a body financed by public monies, we must ensure that the framework of internal control limits exposure to fraud and corruption.

FREEDOM OF INFORMATION

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We are required to publish details of our publication scheme as part of meeting our obligations under the Freedom of Information Act. If the information that you wish to request is not included in the publication scheme, email: legal@lpfa.org.uk

The publication scheme also details the LPFA’s charging structure which may be appropriate regarding some requests. We do not provide direct links to all the information it publishes, but it uses this website to hold the majority of the information.

GIFTS, HOSPITALITY EXPENSES FRAMEWORK

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The Gifts, Hospitality and Expenses Framework sets out our approach to gifts, hospitality and expense claims by Board members, Local Pension Board members and employees.

GIFTS, HOSPITALITY & EXPENSES REGISTERS

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GOVERNANCE COMPLIANCE STATEMENT

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The Governance Compliance Statement sets out how the administration of the Authority is governed. Each administering authority is required to publish a governance compliance statement in accordance with The Local Government Pension Scheme Regulations 2013 and set out how they comply with Regulation 55.

HEALTH & SAFETY

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Our Health & Safety Policy outlines our intentions and arrangements for ensuring the health, safety and well-being of our employees whilst at work and other persons involved or affected by our business activities.

INFORMATION SECURITY POLICY

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We are committed to preserving the confidentiality, integrity and availability of all the physical and electronic information assets throughout our organisation. The provision of Information Technology (IT) services are outsourced to LPPI, as part of a corporate services agreement. LPFA’s Information Security Compliance Statement sets our strategic approach to information security.

KNOWLEDGE AND SKILLS FRAMEWORK

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The LPFA has fully adopted the principles of the CIPFA Code of Practice on Public Sector Pensions Finance Knowledge and Skills Framework as it is essential that all LPFA colleagues are fully equipped with the knowledge and skills to undertake our duties as effectively as possible. 

Decision-making officers are accredited by respective professional and chartered bodies and employee professional development within LPFA is actively encouraged.

LPFA LOCAL CODE OF CORPORATE GOVERNANCE

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The LPFA Local Code of Corporate Governance sets out how the LPFA ensures a well-run and well governed fund. The code has been developed in line with the CIPFA (Chartered Institute of Public Finance and Accountancy) and SOLACE (The Society of Local Authority Chief Executives and Senior Managers) guidance contained in ‘Delivering Good Governance in Local Government Framework’. The Local Code of Corporate Governance articulates how the LPFA adopts the core principles of good governance.

LPFA PAY POLICY STATEMENT 2020

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Our Pay Policy Statement outlines our approach to providing transparency and fairness of pay. The policy describes our pay framework and approach to determining pay.

RESPONSIBLE INVESTMENT POLICY

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The Responsible Investment Policy sets out how the Fund aims to be a responsible investor by integrating environmental, social and governance issues into our investment process.

RISK MANAGEMENT STATEMENT

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Risk management is the process of identifying, assessing, quantifying, monitoring, controlling and reporting the risks to which the LPFA Fund is exposed and determining how best to mitigate such risks and/or handle such exposure. The purpose of risk management is to ensure that LPFA is aware of and understands the risks involved in carrying out its activities and takes positive action to reduce and/or mitigate them where appropriate and possible. The LPFA risk management process is outlined in our Risk Management Principles.

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.

WHISTLEBLOWING POLICY

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We are committed to openness, probity and accountability. Our Whistleblowing Policy is designed to reassure all those that work for us can raise any concerns internally knowing that we will treat them seriously and in confidence, taking reasonable steps to investigate any concerns.

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