STATUTORY STATEMENTS The Fund produces and maintains a range of statutory and quasi-statutory statements. A breakdown and explanation of each statement can be found below. The latest version of all these documents can be found via the following website link:
BUSINESS PLAN The latest Business Plan was approved by the Pension Fund Committee in March 2019 and outlines the planned activities of the Fund up to 2022. Each scheme year the overarching business plan is reviewed and objectives set for that specific year.
https://wiltshirepensionfund.org.uk/article/3756/Governance
CESSATION POLICY INVESTMENT STRATEGY STATEMENT (ISS) The Committee approved the current ISS at its meeting on 30 March 2021. The ISS sets out the Funds current Investment Strategy. Investment regulations specify the areas that must be included in the statement. The statement is kept under review and revised from time to time, in particular when there is a material change in risk, and at least every three years. The current version of the ISS now incorporates more information about the Fund’s position with regard to responsible investment, and climate change risk in particular.
The latest Cessation Policy was approved by the Pension Fund Committee in December 2020. The Policy outlines the process and the flexibilities available to the Fund to work with employer organisations to pay off any cessation deficit payment.
COMMUNICATIONS POLICY STATEMENT The latest Communications Policy was approved by the Wiltshire Pension Fund Committee in December 2019. It purpose aims to meet the Fund’s communication responsibilities as it transitions to a more digital platform.
PENSION ADMINISTRATION STRATEGY FUNDING STRATEGY STATEMENT (FSS) The FSS outlines how the Fund calculates employer contributions, what other amounts might be payable in different circumstances, and how this fits in with the investment strategy. The document follows CIPFA guidance (“Preparing and maintaining a funding strategy statement in the Local Government Pension Scheme 2016”). The FSS was prepared in collaboration with the Fund’s Actuary, Hymans Robertson and forms an integral part of the framework within which they carry out triennial valuations to set employers’ contributions and to provide recommendations on funding decisions. The latest FSS was approved by the Pension Fund Committee in October 2019 as part of the 2019 valuation.
The pension administration strategy outlines the roles, responsibilities and expectations in terms of provision of data and service delivery of both the administration teams of the Wiltshire Pension Fund and the employer organisations. This policy was last approved by the Pension Fund Committee in December 2019 following consultation with employers. This latest pension administration strategy incorporates the Fund’s transition to an automated way of working with its sponsoring employers and seeks to improve data quality, efficient working practices and cost savings.
WILTSHIRE PENSION FUND DISCRETIONS POLICY This policy outlines discretions made under the following LGPS Regulations approved by the Fund’s Committee on 30 March 2021
WILTSHIRE PENSION FUND ANNUAL REPORT AND ACCOUNTS 2021 55
