LPFA/Lancashire pool appoints board member
Councillor Alan Schofield has been appointed to the Local Pensions Partnership's (LPP) board as a non-executive director, representing the shareholder Lancashire County Council.
The LPP was set up in 2015 to pool the combined £11bn assets of Lancashire's pension fund and the London Pension Fund Authority (LPFA) to save on costs and get economies of scale.
He becomes one of two shareholder directors on the LPP's board, alongside LPFA's Dermot ‘Skip' McMullan, who has been a board member since September 2015.
Schofield, who also becomes a member of the partnership's remuneration and nomination committee, is deputy chair of Lancashire's pension fund committee, a role he has held since 2013 before being re-elected earlier this year.
Schofield was from its outset, a participant in the high-level working party which deliberated on and oversaw the preparation and approval stages leading to the establishment of the LPP in April 2016.
At Lancashire, he is also chairman of the audit and governance committee, and sits on the development control committee.
LPP chairman Michael O'Higgins said: "Alan brings a wealth of insight and experience to the LPP Board, adding to the depth and breadth of expertise at our disposal. He played a significant role in ensuring the successful launch of LPP, and his experience in wider financial management, and in local authority finances in particular, will be a valuable asset to the LPP, its shareholders and investors."
Schofield said he was pleased to join the LPP and other directors in the shareholder representative role, at this "interesting time of transition and consolidation."
"I look forward to helping in that role and contributing to the future growth of the organization," he added.
Schofield is a life member of the Chartered Institute of Public Finance and Accountancy (CIPFA), and a trustee director at the Citizens Advice Bureau.
Prior becoming a councillor, he held senior financial management roles in the water services industry, before working at a number of local authorities in the North West from 1992, until his retirement in 2011.
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