Fund strategies, policies and statements
All our documents can be found as links under Related Documents.
Administration strategy statement
The aim of our administration strategy statement is to make sure both the administering authority (Shropshire Council) and our employers are fully aware of their responsibilities under the LGPS regulations, and to identify acceptable levels of performance.
Climate change strategy
The fund’s Climate Change Strategy explains the fund’s approach to addressing the risks and opportunities related to climate change.
Responsibility for the implementation of this strategy, prepared in alignment with the final recommendations of the Taskforce on Climate-related Financial Disclosures (“TCFD”), is held by the scheme administrator and Head of Treasury & Pensions and it is reviewed annually.
Climate Stewardship Plan
The fund’s Climate Stewardship Plan identifies specific companies and portfolio managers in which stewardship techniques can be leveraged to further understand and manage climate-related risks within the fund. The Climate Stewardship Plan aligns with and is supportive of the Task Force on Climate-related Financial Disclosures (TCFD) and focuses specifically on climate change and complements ongoing stewardship activities on other environmental, social and governance factors.
The report published by the fund follows the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), a blueprint for climate reporting which represents best practice in the investment industry.
Its publication follows an independent and in-depth review of the climate risks of the fund’s investment portfolio.
Communications policy statement
The aim of the communication policy statement is to set out the communications strategy for the fund. It outlines how the fund communicates with scheme members, employers and other key stakeholders.
Employer events policy
The purpose of this document is to describe the various “life stages” of an employer that participates in the fund and how the fund would deal with these circumstances. It summarises events and possible outcomes from those events right through until the employer withdraws from the fund.
Funding strategy statement
The fund is required by the LGPS regulations to prepare and publish a funding strategy statement. The funding strategy statement is prepared in line with guidance issued by CIPFA’s Pensions Panel. A draft is shared with our employing bodies for comment before approval by the pensions committee.
The significance of the funding strategy statement is that the fund actuary considers this as part of the valuation process. The funding strategy statement must be updated whenever there is a material change to our investment policy.
Governance compliance statement
The fund has adopted a governance compliance statement which includes information about our governance arrangements and fund policy on discretions within the regulations.
Investment strategy statement
For many years LGPS funds have had to maintain a statement of investment principles. This document lays out the things considered by the fund when making investment decisions. It also includes the types of investments that could be held, how the various risks are taken into account and sets out the objectives.
The Local Government Pension Scheme (LGPS) Investment Regulations, which became effective on 1 November 2016, introduced a requirement for administering authorities to formulate, publish and maintain an investment strategy statement.
Pensions Board terms of reference
This document sets out the set-up, responsibilities and role of the Pensions Board within the fund.
Reporting breaches policy
Shropshire County Pension Fund has developed a reporting breaches policy and procedure. This makes sure anyone responsible for reporting and whistle blowing can identify, assess and report (or record if not reported) a breach of law.
SCPF Business Plan 2024-2026
The Shropshire County Fund Business Plan for 2024-2026 has been approved by the Pension Committee on March 15 2024.
In the plan, key priorities for “business as usual” and work on new and ongoing projects are highlighted. The key actions and areas of focus in the business plan are grouped into the areas of governance, funding and investments and administration.
Progress against the plan will be reviewed and reported on a quarterly basis to the Pension Committee which will be shared with the Pension Board.
Training policy
The training policy sets out how the fund aims that all relevant individuals involved in the running of the fund obtains and retains the, sufficient knowledge and understanding to make sure all decisions, actions and other activities are carried out in an informed and appropriate way.
