Who runs the pension fund
The Royal Borough of Kensington & Chelsea manages the RBKC Pension Fund for members of the Local Government Pension Scheme (LGPS) and is known as the 'administering authority'.
Administering authorities have to administer the fund in accordance with LGPS regulations. They have to act in the interests of all employers, scheme members and their dependants within the fund.
The Council's Investment Committee is responsible for deciding the policies on how the fund is invested and is made up of elected members of the Council.
The Investment Committee also holds the remit to approve any discretionary policies permitted by the LGPS regulations although decisions on applying any discretionary policies to individual scheme members are made by the nominated officer in accordance with the policy.