Who runs the pension fund
The Scottish Borders Council Pension Fund is administered by Scottish Borders Council.
This means that Scottish Borders Council is regarded as the ‘administering authority’ within the Regulations of the Local Government Pension Scheme.
Administering authorities are required to act in the interests of all employers, members and their dependants within the Fund. The role of the 'administering authority' is very similar to that of a trustee.
The Pensions Team of Scottish Borders Council are responsible for the day-to-day running of the Fund.
Scottish Borders Council has set up a Pensions Fund Committee to make decisions and take responsibility for the management of the Fund.
The Pension Board has also been appointed to assist the Pension Fund in complying with all the legislative requirements and making sure that the scheme is being efficiently and effectively governed and managed.