Agenda and draft minutes

Venue: Virtual Meeting - Online access

Contact: David Cook  Email: david.cook@rbwm.gov.uk

Video Stream: Click here to watch this meeting on YouTube

Items
No. Item

15.

Apologies

To receive any apologies for absence.

Minutes:

There were no apologies for absence received.

16.

Declarations of Interest pdf icon PDF 219 KB

To receive any declarations of interest.

Minutes:

There were no declarations of interest received.

17.

Minutes pdf icon PDF 294 KB

To approve the Part I minutes of the meeting held on 14 December 2020.

Minutes:

The Part I minutes of the meeting held on 14 December 2020 were approved as a true and correct record.

18.

LOCAL AUTHORITY PENSION PERFORMANCE ANALYTICS pdf icon PDF 1 MB

Presentation from PIRC

Additional documents:

Minutes:

The Committee considered a presentation regarding services provided by Pensions and Investment Research Consultants for pension performance analytics.

 

Ian Colman, Interim Pension Fund Manager, informed that members had requested the provision of comparative performance information so they could asses the performance of the Fund.  LAPPA were the only providers of such a service and the Committee were asked if they wished to re-subscribe to the service. 

 

Karen Thrumble, PIRC LAPPA, informed the Committee that the group comprised of more than 60 funds that included all Welsh Pool, all of London (exceprt Croydon), the Northern Pool and all other pools except Central.

 

Resolved unanimously:  that the Pension Fund Committee notes the report and:

 

i)          Agrees to subscribe to the Local Authority Pension Performance Analytics service.

19.

RESPONSIBLE INVESTMENT POLICY pdf icon PDF 234 KB

Minutes:

The Committee considered the report regarding the adoption of a Responsible Investment Policy.

 

 

 

 

Resolved unanimously: that the Pension Fund Committee notes the report and:

 

i)          Agrees a Responsible Investment Policy as drafted at Appendix 1.

20.

VOTING AND ENGAGEMENT POLICY pdf icon PDF 224 KB

Minutes:

The Committee considered the report regarding the proposed Voting and Engagement Policy to be used by the Local Pensions Partnership Investments.

 

 

 

 

Resolved unanimously:  that the Pension Fund Committee notes the report and:

 

i)                 Agrees a Voting and Engagement Policy as provided at Appendix 1.

21.

PENSION GOVERNANCE PROGRESS REPORT - PROGRESS UPDATE pdf icon PDF 190 KB

Minutes:

The Panel considered the report regarding the an update on the progress made on the independent report presented to Committee on 19 October 2020 into the governance arrangements of the Pension Fund.

 

 

 

Resolved unanimously:  that the Pension Fund Committee:

 

i)          Notes the paper and progress matrix at Appendix 1.

22.

DELOITTE ISA260 PAPER FOR 2019-20 AUDIT pdf icon PDF 1 MB

Minutes:

The Committee considered the report regarding the progress of the 2019-20 Pension Fund external audit.

 

 

 

Resolved unanimously that:  Pension Fund Committee:

 

i)          Notes the report and external auditor’s ISA260 paper at Appendix 1.

23.

ADMINISTRATION REPORT pdf icon PDF 813 KB

Minutes:

The Committee considered the latest administration performance report.

 

 

Resolved unanimously:  that the Committee notes the report and:

 

(i)         All areas of governance and administration as reported.

(ii)        All key performance indicators.

24.

BUSINESS PLAN 2021/22 pdf icon PDF 465 KB

Minutes:

The Committee considered the proposed Pension Fund Business Plan for 2021/22 and medium term strategy for 2022 to 2025.

 

 

 

Resolved unanimously:  that the Pension Fund Committee notes the report and:

 

i)          Approves the Business Plan and Medium Term Strategy and

ii)         Authorises Officers to publish it on the Pension Fund website.

 

25.

PUBLIC SECTOR EXIT PAY REFORM pdf icon PDF 125 KB

Minutes:

The Committee considered the report regarding the update to the Public Sector Exit Payment Reform.

 

 

 

Resolved unanimously:  that the Committee noted the report.

26.

LOCAL GOVERNMENT ACT 1972 - EXCLUSION OF THE PRESS AND PUBLIC

To consider passing the following resolution:- “That under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the remainder of the meeting whilst discussion takes place on the grounds that it involves the likely disclosure of exempt information as defined in Paragraphs 1-7 of part I of Schedule 12A of the Act"

Minutes:

RESOLVED UNANIMOUSLY: That under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the remainder of the meeting on the grounds that they involve the likely disclosure of exempt information as defined in Paragraphs 1-7 of part I of Schedule 12A of the Act.

27.

Minutes

To approve the Part I minutes of the meeting held on 14 December 2020.

28.

LOCAL INVESTMENT - The Berkshire 'Sleeve'

29.

STRATEGIC ASSET ALLOCATION HEALTH CHECK - LPPI

30.

INVESTMENT PERFORMANCE UPDATE Q4 2020- LPPI

31.

LPPI BUSINESS UPDATE