Pension Fund appoints 'Independent Person'

Leicestershire County Council Pension Fund (the Fund) is pleased to announce the appointment of Rekha Owen as the Fund’s Independent Person. 

The Independent Person is a new statutory role introduced as part of recent reforms to the Local Government Pension Scheme. The purpose of the role is to provide independent expertise, challenge and oversight to help support good decision-making and strong governance. The appointment reflects the Fund’s ongoing commitment to openness, accountability and continuous improvement for the benefit of members and participating employers. 

As Independent Person, Rekha Owen will provide independent professional expertise to support the Local Pension Committee in reviewing and challenging the information and advice it receives. This will be across all areas of pension administration, governance and Investment. 

Based in Leicestershire, Rekha is a professional pension trustee at Law Debenture and has more than 25 years’ experience in pensions and investment. Her career has included roles in investment consulting, fiduciary management, private markets and financial regulation.

Commenting on the appointment, Phil King CC, Chairman of the Local Pension Committee, said:

“The appointment of Rekha as the Fund’s Independent Person is an important step in the ongoing strengthening of the Fund’s governance arrangements. She brings considerable experience across pensions, investment management and governance, including fiduciary management. Rekha will provide valuable independent insight and challenge to support both the Local Pension Committee and senior officers. Her role will help ensure that decisions are well-informed, transparent and have a continued focus on achieving the best outcomes for our members and employers. 

As part of this she will support the Fund’s oversight of its pooling arrangements, helping to promote evolving best practice, strong accountability and the delivery of value for money across the Fund.” 

Rekha Owen said "Local government pensions are distinctive because the people who benefit from them and the people who fund them are largely members of the same local community. I have recently moved to Leicestershire, so it is a privilege to contribute to the Fund at a time of significant change for the sector. I look forward to supporting the Committee with constructive challenge and practical insight, so that members, employers and local taxpayers can have confidence in how the Fund is run."