Surrey Pension Fund – Interview


they are being sold and what they are investing in.


Since you joined Surrey in 2015, what has been your biggest challenge?


I have a clear and passionate vision on the management of pensions: that they should be fully integrated and include all parts of the production of pensions for members. So people can see from the contributions they pay into the invest- ment universe – is all integrated as one. Getting that sorted and the right people in place has been a big challenge. We are going in the right direction at Surrey, but we have some way to go. But it is some- thing we need to respond to as an industry.


What has been your experience of the local government pension scheme pool? It is incredibly collaborative. Pooling has helped that. We have 10 other local gov- ernment funds that I speak with on a reg- ular basis. We can look at issues from dif- ferent directions, as it is regionally diverse. I would recommend anyone to be part of it.


You are chair of the PLSA’s Local Authority Committee. What does that entail? It is an incredible honour to represent my colleagues. From my perspective, the PLSA policy board helps to support the


PLSA in the direction in which it takes. My role, in the best way I can, is to make as much noise on behalf of my local gov- ernment scheme colleagues to ensure we have a rightful place in the PLSA’s plans. What are you expecting from the govern- ment’s pooling consultation? We are waiting to hear back from the gov- ernment on pooling and good govern- ance. We are keen to hear what is happen- ing, as funds need to know the trajectory of travel on pooling. With pooling, from the outset there has been real support for the project. But it simply comes down to if we want to move the local government pension scheme pool in the right direction we need a clear view to come from the top.


What have been the most fundamental changes that you have experienced? For the better: the quality of governance. As a result of the LGPS pooling, govern- ance has improved beyond recognition. The promotion of the Local Pensions Board was not universally welcomed, but if you have a Local Pensions Board run in the right way it provides that additional layer of scrutiny, assurance and support for trustees that they would not otherwise have.


We are going in the right direc- tion at Surrey, but we have some way to go.


The worst is that there is too much emphasis on the super sexy side of the business. By which I mean discussion about asset allocation and returns. Yes, we need them. They are incredibly important, but then we also need to talk about paying people the right money at the right time. I am not sure the balance is quite right.


It is about making the pensions adminis- tration side of things better. That is our interface with members, and it is all about the most important thing: paying people their pensions.


What has been your greatest achievement? Probably it comes down to the two last years. It is surrounding myself with peo- ple who are much better than me. That is


NEIL MASON’S CV July 2021 – present


Assistant director – LGPS senior officer Surrey Pension Team


December 2019 – June 2021 Strategic finance manager – pensions Surrey County Council


December 2017 – November 2019 Head of pensions Surrey County Council


January 2015 – December 2017 Senior specialist adviser Surrey County Council


September 2013 – January 2015 Strategic pensions manager London Borough of Hounslow


April 2009 – September 2013 Pensions officer London Borough of Hounslow


October 2008 – January 2014 Founder member 2plan Wealth Management


November 2018 – present Policy board member Pensions and Lifetime Savings Association


July 2015 – present Vice chairman of the Local Pension Board


London Borough of Hounslow


my greatest achievement: putting a team together that are strategically and great with their teams.


fantastic


What do you see as the biggest challenges on the horizon? As always with pensions, the challenges are the unknown unknowns. The next Black Swan event: that thing we cannot predict. But what you can do is make sure you are nimble enough as an organisation to deal with it when it comes, so you can respond to it adequately.


Issue 119 | December-January 2023 | portfolio institutional | 15


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