There's a requirement for all individuals with a role in the LGPS (including members of the Committee, members of the Pension Board and officers) to report breaches of law when they've reasonable cause to believe that a breach has occurred.
All individuals with a role in the LGPS have a duty to report breaches of law when they have reasonable cause to believe that:
- A legal duty relevant to the administration of the scheme has not been, or is not being, complied with; and
- The failure to comply is likely to be of material significance to the Pensions Regulator.
Breaches can occur in relation to a wide variety of the tasks normally associated with the administrative function of a scheme such as keeping records, internal controls, working out benefits and making investment or investment-related decisions.
In line with guidance issued by the Pensions Regulator, we've developed a policy and procedure for ensuring those responsible for reporting and whistle blowing can identify, assess and report (or record, if not reported) a breach of law relating to the fund.