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Our governance
We have an appropriate and tailored governance framework with a strong stakeholder focus in place which ensures compliance with FCA regulation, helping to safeguard client assets and objectives, and seeks to promote achievement of LPP’s strategy. More recently LPP has agreed to follow the Wates Principles.

The LPP Board is responsible to its shareholders for the overall direction, supervision and management of LPP and its subsidiaries (the Group) to ensure its success. It determines the Group’s strategic direction and objectives, its viability and governance structure. It operates in accordance with its Articles of Association, Terms of Reference and powers reserved for the Board as laid down by the shareholders agreement along with its obligations under the Companies Act, FCA regulations and other public law obligations.

As a Board, we are committed to the highest standard of corporate governance. The day-to-day management of the Group and the implementation of the strategic plan are delegated to the Chief Executive along with the Executive Directors who are all members of the Executive Committee. The Executive Committee plays a key role in overseeing operational performance and delivering our strategy. 

The Board recognises the importance of engaging with shareholders and its wider stakeholders. This includes:

  • Shareholder meetings with LPFA and LCPF take place quarterly, in addition to a general meeting which takes place on an annual basis.
  • Monthly/quarterly client meetings
  • Attendance at local pension board
  • Attendance at pension committees and boards
LPPI also runs an Investor Forum twice a year, providing an update on its pooling progress and to discuss any investment strategies with shareholders and clients.
A diagram to illustrate how LPP is governed