Independent Member

The London Borough of Hackney as Administering Authority of the London Borough of Hackney Pension Fund is seeking to appoint an experienced Independent Person to support and contribute to the London Borough of Hackney Pension Committee and support the Assistant Director Pension Fund Investment & Administration. This is a non-voting appointment established in line with the Local Government Pension Scheme (LGPS) 2026 (Amendment) (Governance) Regulations 2026 which introduces amendments to the Local Government Pension Scheme Regulations 2013 to strengthen governance arrangements.

The Independent Person will provide independent challenge, professional insight, scrutiny across investment, pool oversight, governance, administration, independent reviews and wider LGPS responsibilities. 

Further details about the Fund can be found in the Committee Papers and Fund Website.

THE OPPORTUNITY

The appointment will strengthen independent oversight of the Fund in the long-term interest of scheme members, employers and other relevant stakeholders but it does not replace the responsibilities of the Administering Authority, Pensions Committee, Senior LGPS Officer or professional advisers. 

SPECIFICATION AND SERVICE DELIVERY PROPOSAL

• To support and contribute to the development of all strategies for which the pension committee is responsible.
• To scrutinise any advice given to the committee, whether from the pool or any other organisation or individual.
• To help monitor and assess performance against targets set in LGPS strategies, including administrative performance and the pool’s implementation of the investment strategy, and help monitor whether the collective pool oversight process meets the requirements of the administering authority.
• To support consideration of the committee’s governance arrangements, including any action plans arising from Independent Governance Reviews or other improvement work. 
• The independent person should provide additional scrutiny and challenge on administration, governance, pool oversight and investment, by virtue of being fully independent from the administering authority. 
• Support oversight of pension administration performance, regulatory compliance, risk management and service improvement. 
• To support the Assistant Director Pension Fund Investment and Administration in identifying knowledge gaps and delivering the Training Strategy. 
• Maintain high standards of integrity, confidentiality, political impartiality and professional conduct.  
• To assist the Committee on all matters pertaining to the effective discharge of the LGPS functions. 

WHAT WE ARE LOOKING FOR

• Demonstrable senior-level expertise in pensions, investments, governance or related professional disciplines preferably at board level. 
• a qualification from the Pensions Management Institute (PMI) – the award in pension trusteeship, diploma in professional trusteeship, certificate in professional trusteeship, or accreditation for professional trustees.
• Membership of, and accreditation by, the Association of Professional Pension Trustees (APPT).
• Significant experience of pensions and advising lay trustees or committee members regarding the investment of pension scheme assets, governance and administration.
• Strong understanding of the investment management industry, investment asset classes and the factors that drive and influence performance.
• Ability to interpret complex investment, actuarial, governance and administration information and to communicate independent views clearly.
• Articulate in writing and speech, including formal papers and presenting, in particular the ability to communicate complex issues in a non-judgemental manner.
• The ability to provide challenge and opinion.
• Strong understanding of pension fund governance, investment oversight, funding, administration, risk management and regulatory requirements preferably in an advisory capacity with the local government pension scheme or in defined benefit scheme fiduciary management.
• Strong understanding of the UK pensions landscape with LGPS experience preferred.

DESIRABLE QUALITIES 

• Investment Management or actuarial professional qualifications.
• Good knowledge of Local government pension scheme legislation.
• Experience in the Responsible Investment industry.  
• Deep knowledge of the pensions actuarial industry and factors which influence performance. 

TIME COMMITMENT AND TERM OF APPOINTMENT

Time commitment: Preparing for and attending approximately 10 – 12  meetings a year which includes 6 Pensions Committee meetings, occasional Pensions Board meetings, officer engagement and other meetings as directed by the Assistant Director Pension Fund Investment and Administration and ad hoc activities. Committee meetings require in-person attendance. In-person meetings will take place at the Hackney Town Hall.

Contractual terms and term of appointment: To preserve your independence, the Independent Person will be appointed through a contractual arrangement either as an individual or through a limited company for an initial term of three years. The appointment will be reviewed after the first year subject to satisfactory performance and approval. Subject to satisfactory performance, continuing need, regulatory changes and the Council’s requirements, there may be up to two further extensions following the initial term.

The Pensions Committee will regularly review the contribution of the independent person. The independent person must be a single individual; therefore, a professional trustee firm applying must put forward one named individual acting as the independent person.

Please see Terms and Conditions of contract available on request.

REMUNERATION

Remuneration: Remuneration will be agreed contractually up to £35k per annum with reasonable travel expenses in line with the Council’s Gifts, Hospitality and Expenses Policy. Remuneration will reflect the required senior expertise. This is not a salaried employment position and the Independent Person will not be an employee of the London Borough of Hackney.

INDEPENDENCE AND CONFLICT OF INTEREST 

Independence: To ensure independence, both actual and perceived applications must not be employed by any company that currently provides other paid pension advice to the administering authority (notwithstanding the pensions advice relating to the support of staff or the Pension Board Chair), or a company that conducts the Fund’s Independent Governance Review or actuarial valuation, London CIV, or by any company that provided such services within the past 2 valuation cycles. 

The independent person will be required to resign if the company they are employed by now provides other paid pensions advice, actuarial valuation or conducts the Fund’s independent governance.  

Conflict of Interest: Applicants must disclose any business interests, personal connections, or affiliations and groups that could be perceived as a conflict of interest. This includes financial interests, memberships in associations, employment or any other relevant connections. Applicants should provide details of how any potential conflicts would be managed. Upon appointment, the success