The Pensions Regulator oversees and regulates the governance and administration of public service pension schemes in the UK.
Public sector pension schemes must be governed and administered as public service pension schemes under the Public Service Pensions Acts (PSPA) from April 2015. Scheme managers and pension board members must comply with a number of legal requirements.
Each public service scheme has scheme regulations which set out details of the membership and benefits to be provided under the scheme. They also identify scheme managers, and provide for pension boards and scheme advisory boards to be established. The regulations form the scheme rules.
The Police Pension Scheme 2015 sets out the statutory arrangements both at a national and local level to comply with the new legislation and manage the old and new pension schemes.
The Police Advisory Board for England & Wales will serve as the national police pension scheme advisory board and take over from the Police Negotiating Board that ceased on 31 August 2014.
The Chief Constable is the ‘scheme manager’ of the Police Pension Fund of Northumbria and is required to manage and administer it with the exception of their own pension.
The Police and Crime Commissioner will be ‘scheme manager’ for matters relating to the Chief Constable’s pension and pension forfeiture.
The Pension Board is responsible for assisting the scheme manager in securing compliance with regulations and other matters.
The scheme administrator keeps records, collects contributions and pays benefits to members.
The Board is also advised by Force staff including finance and legal professionals.
The Board will meet routinely up to three times in each calendar year. Additional meetings may be called by the Chair or Board members.
Terms of Reference