Responsibility for the administration of the West Sussex County Council pension scheme was transferred to Hampshire County Council with effect from 4 March 2019. The pension scheme is part of the national Local Government Pension Scheme (LGPS) with some 80 local authorities as members. West Sussex funds are currently in the region of £4.3bn.
The Pensions Panel comprises seven County Councillors, one representative from the district councils, one representative from the other major employers (currently vacant) and a representative for members. The Panel is supported by the Director of Finance and Support Services and an Investment Adviser.
The Pension Panel is unlike most other council committees, as it does not have a Cabinet Portfolio Holder. The responsibility for governance, choice of fund managers, etc. is down to the Pension Panel members.