The Management Panel and Advisory Panel

The Panel’s specific functions and responsibilities include, but are not limited to, the following:

• Setting the overall strategic direction for the Fund’s activities and establishing priority objectives for the Director of Pensions.
• Approving an annual business plan and monitoring performance against key objectives.
• Setting the terms of reference for the Fund’s Advisory Panel and Working Groups and appointing members to each.
• Appointing independent advisors to advise the Management Panel and independent observers to participate in the Advisory Panel.
• Receiving reports from the Working Groups, Local Pensions Board and Director of Pensions and making decisions taking into account their recommendations.
• Providing guidance to the Director of Pensions and other officers in exercising their delegated powers.
• Approving the allocation of resources and an operational budget for the Fund each year and receiving reports on spending.
• Reviewing and approving all statutory policies of GMPF.
• Ensuring there is an effective system of financial control in place and regular scrutiny of the Fund’s audit plans, the reports prepared by Tameside MBC’s Internal Audit team and those prepared by the External Auditors.
• Ensuring an effective risk management strategy is in place and there is adherence to the Fund’s Risk Management Policy and regular scrutiny of the whole fund risk register.
• Determining the Fund’s investment strategy, responsible investment policy and its core investment beliefs and arranging the management of the Fund’s investments.
• Providing direction to the Northern LGPS and undertaking any functions necessary in relation to it.Monitoring investment activity and performance and taking independent and specialist advice on matters to be determined.
• Determining the Fund’s administration and governance arrangements, overseeing administration activities, performance, and the payment of benefits.
• Assessing employer funding arrangements and approving the funding strategy statement, as well as overseeing the triennial actuarial valuation process.
• Approving the annual report and accounts.
• Monitoring developments within the LGPS and the wider pensions landscape and assessing the impact of these developments on the Fund, together with subsequently setting or amending any related polices or governance arrangements.
• Considering views expressed to the Management Panel by the Local Pension Board, scheme employers, scheme member or pensioner representatives. 
• Making representations to the Government about any planned changes to the Local Government Pension Scheme or related legislation, and approving responses to consultations as and when required. 
• Approving the training plans for all elected members and officers with delegated responsibilities for the management and administration of the Scheme. 
• Promoting equality, diversity, and inclusion, and encouraging all views to be expressed and considered. 
• Any other area within the statement of purpose as the Management Panel deems appropriate.