The 2015 NHS Pension Scheme has governance arrangements in place to ensure the scheme remains sustainable for both employers and employees.
The arrangements consist of a pension board (PB) and a scheme advisory board (SAB), both of which are a legal requirement under The Public Service Pensions Act 2013. These boards cover arrangements across England and Wales. Our governance flowchart shows the structure of the governance arrangements.
The boards work in partnership with key stakeholders and have the following representation: employer and member representatives, health departments, the Government Actuary's Department (GAD), and the NHS Business Services Authority (NHSBSA). In addition the SAB has representation from an independent actuarial advisor.
Pension board (PB) - has responsibility for setting and monitoring the performance of the scheme administrator. This includes ensuring scheme compliance with all relevant regulations and directions and working closely with The Pension Regulator (TPR). The group meets quarterly.
Scheme advisory board (SAB) - is required to provide advice to the responsible authority (Secretary of State for Health), on desirability of changes to the scheme. The group meets quarterly. SAB comprises members from key stakeholders within the NHS and the NHS Pension Scheme. These include representatives from the health departments, the Government Actuary's Department, NHS Pensions, an independent actuary as well as employer and member representatives.
Scheme advisory board annual reports
There is one sub-group within the governance arrangements, with specific responsibilities: the technical advisory group.
Technical advisory group (TAG) - reporting to the SAB, the TAG provides detailed and technical analysis on regulatory and other scheme changes. Representation includes employer and member representatives, health departments, GAD, NHS Pensions and an independent actuarial advisor.
If you have any questions on the governance arrangement or are interested in becoming involved, please email email@example.com.