Council Constitution

Part 3a - Terms of Reference and Scheme of Delegation

13. Greater Manchester Pension Fund

1. In accordance with the decision of the Association of Greater Manchester Authorities on 19th December 1986, the Council established a Committee to which are delegated the functions vested in the Council by virtue of the Order made by the Secretary of State for the Environment pursuant to Section 67 of the Local Government Act 1985.
   
   
2. The Committee, called the Pension Fund Management Panel, shall comprise 21 Members, of which 16 Members shall be Tameside Councillors and five co-opted by Tameside on the recommendation of the remaining nine Districts acting through the Association of Greater Manchester Authorities.
   
   
3. The Panel shall appoint a Pension Fund Advisory Panel comprising one elected Member, appointed by each of the District Councils, and six employee representatives; provided that any such employee representative shall not be an employee of the administering authority whose employment responsibilities involve any aspect of administration of the Greater Manchester Pension Fund.
   
   
4. The Pension Fund Advisory Panel shall have the following duties:-
   
   
   1. advise on the establishment of policies in relation to investment management, including the appointment and approval of Terms of Reference of independent advisers to the Fund and investment managers;
   2. the monitoring of investment activity and the performance of the Fund;
   3. the oversight of the administrative and investment management functions of the Fund; and
   4. the giving of advice and guidance to Officers in the exercise of delegated powers.

1 3.5 Scheme of Delegation to Officers

The Pension Fund Management Panel has approved a Scheme of Delegation to the Director of Pensions in respect of (i) Benefits and Contributions and (ii) Investment Matters (set out in part 3(a) Section 16(2) of the Constitution).