On [the eve of] World Cancer Day, as a disease that impacts many of us, we wanted to take a moment to offer our support to efforts in raising awareness of the great work that goes on in research for the prevention of cancer, and access to treatment.
World Cancer Day aims to raise worldwide awareness, improving education and catalysing personal, collective and government action, working together to reimagine a world where millions of preventable cancer deaths are saved and access to life-saving cancer treatment and care is equitable for all.
Our CEO, Mike Weston, utilises his corporate volunteering days (2 days for every employee of LGPS Central) as Chair of Trustees for the Institute of Cancer Research (ICR) Pension Scheme and is a subject he is very passionate about. We took the opportunity to pose a few questions to Mike, to gain a little more insight to his role and the impact of ICR.
- How long have you supported Institute of Cancer Research (ICR) Pension Scheme? I first joined the pension scheme board as an independent Trustee in 2013, so almost 10 years now.
- What is your role and how much time do you have to dedicate? I am now Chair of Trustees. We have four formal meetings a year, each of half a day. The same amount of time is spent preparing and reading papers in advance. There are also ad-hoc calls with the ICR (Sponsor), especially in triennial valuation years or when we are re-tendering our service providers, or when we have market dislocations such as the LDI crisis last Autumn.
- How does your involvement in Institute of Cancer Research (ICR) Pension Scheme compliment your role at LGPS Central? ICRPS is a closed DB scheme with a deficit recovery plan in place to reach full funding by 2031. The derisking flightplan is something which LGPS does not do at the moment as it is still an open scheme. Understanding the trustee perspective complements work as an investment manager at Central.
- What is the primary objective of Institute of Cancer Research? To make the discoveries which cure cancer. It is one of the worlds foremost cancer research institutes.
- How important is the Pension Scheme to Institute of Cancer Research? Every pound we save the Institute with good investment performance, risk control and efficient management of the pension scheme, is a pound more to fund scientific research.
- Why do you choose to volunteer your time to Institute of Cancer Research (ICR) Pension Scheme? Like many of us, my family has been directly impacted by cancer. This is a way I can positively help beat the disease.
