Agenda

from 23/11/21, Pension Committee - Friday, 3rd December, 2021 10.00 am, MOVED

Venue: Council Chamber, Town Hall, Katharine Street, Croydon CR0 1NX. To view the meeting webcast, please click here

Contact: Anoushka Clayton-Walshe  Email: anoushka.clayton-walshe@croydon.gov.uk

Items
No. Item

1.

Apologies for Absence

To receive any apologies for absence from any members of the Committee.

 

2.

Minutes of the Previous Meeting pdf icon PDF 289 KB

To approve the Part A minutes of the meeting held on 14 September 2021 as an accurate record.

3.

Disclosure of Interests

In accordance with the Council’s Code of Conduct and the statutory provisions of the Localism Act, Members and co-opted Members of the Council are reminded that it is a requirement to register disclosable pecuniary interests (DPIs) and gifts and hospitality to the value of which exceeds £50 or multiple gifts and/or instances of hospitality with a cumulative value of £50 or more when received from a single donor within a rolling twelve month period. In addition, Members and co-opted Members are reminded that unless their disclosable pecuniary interest is registered on the register of interests or is the subject of a pending notification to the Monitoring Officer, they are required to disclose those disclosable pecuniary interests at the meeting. This should be done by completing the Disclosure of Interest form and handing it to the Democratic Services representative at the start of the meeting. The Chair will then invite Members to make their disclosure orally at the commencement of Agenda item 3. Completed disclosure forms will be provided to the Monitoring Officer for inclusion on the Register of Members’ Interests.

 

4.

Urgent Business (if any)

To receive notice of any business not on the agenda which in the opinion of the Chair, by reason of special circumstances, be considered as a matter of urgency.

 

4a

Croydon Council’s Local Government Pension Scheme Employer Contribution Review 2021/2022 to 2022/2023 pdf icon PDF 125 KB

Changes to the Local Government Pension Scheme regulations allow scheme employers, of which the Council is one, to request a review of the contribution rate set out by the most recent actuarial valuation.  The Chief Executive, as Head of Paid Service, has asked the Pension Committee to request such a review of the Scheme Actuary.

 

4b

London Collective Investment Vehicle - amendments to Shareholder Agreement and Articles of Association pdf icon PDF 149 KB

This report seeks agreement to changes to the Articles and Shareholder Agreement for London CIV.

5.

Governance Review pdf icon PDF 265 KB

The Committee is asked to note the recommendations of the Pension Board in respect of the Review of Pension Fund Governance arrangements.

Additional documents:

6.

London Borough of Croydon Pension Fund: Property Transfer Proposal pdf icon PDF 123 KB

This report sets out the argument for rescinding the decision to take forward a proposal to transfer properties into the Pension Fund.

7.

Pension Fund Governance: the Admission Policy, the Bulk Transfer Policy and the Policy for Employers Leaving the Fund pdf icon PDF 333 KB

This Report explains the rationale for the Committee to agree an “Admissions Policy”, “Bulk Transfer Policy” and a “Policy for Employers Leaving the Fund” and recommends these documents to the Committee for approval.

Additional documents:

8.

Pension Fund Annual Report 2019/2020 pdf icon PDF 131 KB

This report asks the Committee to note the draft Croydon Council Pension Fund   Annual Report 2019/2020 (Appendix 1) and the draft Grant Thornton Audit Findings Report (Appendix 2).

Additional documents:

9.

Pension Fund Annual Report 2020/2021 pdf icon PDF 217 KB

This report asks the Committee to note the draft Croydon Council Pension Fund   Annual Report 2020/2021 (Appendix 1).

Additional documents:

10.

Review of Breaches Log pdf icon PDF 309 KB

It is a requirement of The Pension Regulator for the Pension Fund to maintain a breaches log detailing incidences where breaches have occurred.  In line with the recommendations of the Aon Hewitt Governance Review, on 15 September 2020 the Committee agreed the revised Reporting Breaches of the Law Policy.  This included a requirement for the Committee to monitor breaches on a regular basis.  This report presents the current log (Appendix A) for the Committee’s consideration.

Additional documents:

11.

Update on funding position as at 30 September 2021 pdf icon PDF 287 KB

This report updates the Committee on the performance of the Pension Fund since the last actuarial valuation.

Additional documents:

12.

Progress Report for Quarter Ended 30 September 2021 pdf icon PDF 504 KB

This report provides an update on the London Borough of Croydon Pension Fund’s (the Fund’s) performance for the quarter to 30 September 2021.

13.

Minute Taking at meetings of the Pension Committee and Pension Board pdf icon PDF 124 KB

Following a request at the most recent Pension Committee meeting, this report provides Members with an opportunity to consider alternative provision for minute taking of Pension Committee and Pension Board meetings.

 

 

 

 

 

 

                                

14.

Exclusion of the Press and Public

The following motion is to be moved and seconded where it is proposed to exclude the press and public from the remainder of a meeting:

 

“That, under Section 100A(4) of the Local Government Act, 1972, the press and public be excluded from the meeting for the following items of business on the grounds that it involves the likely disclosure of exempt information falling within those paragraphs indicated in Part 1 of Schedule 12A of the Local Government Act 1972, as amended.”

 

Part B

15.

Minutes of the Previous Meeting

To agree the Part B minutes of the meeting held on 14 September 2021.

16.

Croydon Council's Local Government Pension Scheme Employer Contribution Review 2021/2022 to 2022/2023

Additional documents:

17.

Progress Report for Quarter Ended 30 September 2021

Additional documents:

18.

Minute Taking at meetings of the Pension Committee and Pension Board

19.

London Collective Investment Vehicle - Amendments to Shareholder Agreement and Articles of Association