About the Shetland Islands Council Pension Fund

The Shetland Islands Council Pension Fund is part of the national Local Government Pension Scheme Scotland (LGPS)

If you join the LGPS and stay in for at least 2 years, you become a member and you will get pension benefits paid to you when you retire.

Pension scheme members include people who work for:

• Shetland Islands Council
• Orkney & Shetland Valuation Joint Board
• Other employers within Shetland who have applied for admitted body status to the LGPS
• And Councillors

The LGPS is a statutory scheme. This means that it is very secure because the amount members are paid in retirement is defined and set out in law.

Teachers have their own pension scheme and are not part of Shetland Islands Council Pension Fund.

Who runs the pension fund?

The Shetland Islands Council Pension Fund is administered by Shetland Islands Council.

This means that Shetland Islands Council is the "administering authority" as defined by the Local Government Pension Scheme (Scotland) Regulations.

Shetland Islands Council has established a Pensions Committee and a Pensions Board.  The Pensions Committee makes decisions and takes responsibility for management of the fund.  The Pensions Board ensures that the scheme is being effectively governed and managed.

Administering authorities have to act in the interests of all employers, members and their dependants within the fund. The role of the administering authority is very similar to that of a trustee.

Responsible Officer of Shetland Islands Council Pension Fund

Paul Fraser,  Executive Manager Finance

Pension and Investment Administration

Mary Smith, Expenditure Team Leader and her team provide pension administration services

Colin Bain, Treasury Accountant and his team provide investment services