The London and Lancashire Pensions Partnership (LLPP) is to be formed as a £10bn partnership next April. The two funds will pool assets, jointly manage the liabilities of the two administering authorities and offer pension fund management as a fully-fledged pension service organisation.
Commenting on the appointment, LPFA chair Sir Merrick Cockell said: “Michael is highly respected in the public and private sectors as well as academia. His experience is invaluable as we develop this unique and ground-breaking partnership and we look forward to working with him.
“To have a person of Michael’s calibre chairing the partnership is a real testament to what we are trying to achieve. “
Leader of Lancashire County Council Jennifer Mein added: “Michael's vision and experience are welcome assets, which should give others confidence in the seriousness of our joint endeavour, as we work towards launching the new company in April 2016.”
O’Higgins will take up the post with immediate effect. His current non-executive positions include the chairmanship of the NHS Confederation and the Remuneration Committee at Network Rail. He was previously chair of the Audit Commission.
O’Higgins said he was delighted with his new position on the LLPP board.
“I applied for this role because I believe what Lancashire and London are doing with this partnership is exactly what should happen across local government, and indeed the wider pension sector, to help secure better benefits for members.
Lancashire county council deputy leader David Borrow and Skip McMullan, representing LPFA, will also sit on the board along with three independent non-executive directors.
