Oxfordshire Pension Fund recognised for high standards of stewardship

Employees at local councils and other organisations who pay into a major pension scheme can be confident that their money is managed and invested appropriately.

The Oxfordshire Pension Fund is part of the national Local Government Pension Scheme and has been accepted as a signatory to the UK Stewardship Code by the Financial Reporting Council.

The code sets high standards of stewardship for those investing money on behalf of UK savers and pensioners. Becoming a signatory is recognition of the work the fund has undertaken in recent years to become a responsible investor.

Councillor Bob Johnston, Chair of the Oxfordshire Pension Fund Committee, has made the following statement: “I am pleased that the fund has received recognition for its current work. We pledge that we will continue, alongside our investment partners at Brunel, to engage with and challenge the companies we invest into, on a wide range of responsible investment issues, including climate change. We look forward to developing and strengthening our stewardship activities to drive the positive change that will benefit our members.”

To become a signatory, investors need to demonstrate that they are actively using their voice and influence to encourage companies to act in a way that recognises the importance of environmental, social and governance issues, and delivers financial benefits

There are 277 signatories to the code, representing £44.6 trillion assets under management. This includes 189 asset managers, 69 asset owners and 19 service providers. The Oxfordshire Pension Fund is one of 27 organisations that have been added to the signatory list for the first time.

The Oxfordshire Local Government Pension Scheme is hosted by the county council but also represents the district and city councils and organisations such as Oxford Brookes University, academy schools, further education colleges and housing associations.

Find out more about the Oxfordshire Pension Fund’s approach to responsible investment on the county council’s website and the UK Stewardship Code by visiting the Financial Reporting Council’s website.

More information

The Oxfordshire Pension Fund is managed by a committee. The committee, which is comprised of elected council members, is advised by the Director of Finance and an independent financial advisor and is responsible for the pension fund's investment arrangements.

All public sector pension schemes were required under the Public Service Pensions Act 2013 to set up a pension board with effect from 2015/16 to assist the administering authorities of their pension scheme in ensuring compliance with LGPS and other pension regulations. The board's key roles are to support and challenge the Pension Fund Committee as it carries out its statutory responsibilities.

More information about the board, the committee and the work that they do is available on Oxfordshire County Council's website

Click Sign up to hear from us and receive the latest news and updates thanks to our fortnightly newsletter, Your Oxfordshire.