Agenda and draft minutes

Venue: Grey Room - York House. View directions

Audio-recording: To listen, click here or to download and listen later, right click and save as an mp3

Items
No. Item

228.

Apologies

To receive any apologies for absence.

Minutes:

Apologies for absence were received by Cllr Law, Cllr Lovelock and Mr Finlay.

229.

Declarations of Interest pdf icon PDF 219 KB

To receive any declarations of interest.

Minutes:

There were no declarations of interest received.

230.

Minutes pdf icon PDF 72 KB

To approve the Part I minutes of the meeting held on 23 September 2019.

Minutes:

Resolved unanimously: that the Part I minutes of the meeting held on 23 September 2019 were approved as a true and correct record.

231.

Terms of Reference pdf icon PDF 96 KB

To note the proposed revised terms of reference.

Minutes:

The Deputy Pension Fund Manager informed the Panel that at the last meeting the terms of reference were presented for new members.  It was agreed that they would be amended and were being presented to this meeting with tracked changes.  The amended version would need to go to RBWM Council for approval and adoption.

 

Cllr Da Costa asked why the changes were being recommended and was informed that it was due to pooling with LPP.

 

Cllr Bond questioned why emergency powers were required to change investments.  Cllr Hilton replied that it was unlikely that the investment group would use the emergency powers especially now we were joined with LPP, however there remained some legacy investments that were not pooled so it was prudent to have emergency provisions in place.

 

The Panel noted the revised terms of reference.

232.

Pension Fund Panels Annual Work plan pdf icon PDF 382 KB

To consider the report.

Minutes:

The Deputy Pension Fund Manager introduced the report that detailed a number of Administering Authority policy statements for review as set out on the Panel’s work programme.

 

Cllr Da Costa asked for the main points of the service level agreement and provision of expertise to meet them.  He was informed that it covered the key areas of the work the administrating authority undertook to fulfil statutory duties and that training was provided and performance monitored via KPI’s in the Administration Report.

 

Resolved unanimously: that . Panel notes the report and:

 

i) Subject to any amendments being proposed, approves the policy

statements set out in Appendix 1 to the report as continuing to be fit for

purpose.

ii) Request that officers produce and publish the approved policy

statements on the Berkshire Pension Fund website.   

233.

Administration Report pdf icon PDF 468 KB

To consider the report.

Minutes:

The Pension Administration Manager introduced the latest Administration Report for the period covering 1 July 2019 to 30 September 2019.  Pages 45 onwards detailed the performance against key performance indicators.

 

Cllr Story asked for clarification on what admission bodies were and was informed that they were private companies who were admitted to the fund because staff had been tuped, for example Optalis.

 

The Chairman asked why it was taking so long to get everyone using i-Connect and was informed that about 79% of scheme records were covered by it but there remained issues such as third party pay role providers still not able to use the system. The unitary authorities were all on board.

 

Resolved unanimously: that Panel notes the report and:

• All areas of governance and administration as reported

• All key performance indicators

234.

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.

235.

Minutes

To consider the Part II minutes.

236.

Triennial Valuation Results - Barnett Waddingham

To consider he report.

237.

Employer Covenant Review Update LPP

To consider he report.

238.

Investment Performance Update - LPPI

To consider the report.

239.

Risk Assessment Register

To consider the report.