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Agenda

Contact: Democratic Services  Email: Democratic.Services@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 109 KB

To approve the minutes of the meeting held on Tuesday, 12 December 2023 as an accurate record.

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3.

Disclosure of Interests

Members are invited to declare any disclosable pecuniary interests (DPIs) and other registrable and non-registrable interests they may have in relation to any item(s) of business on today’s agenda.

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.

 

5.

Training Plan pdf icon PDF 131 KB

This report asks the Committee to agree the proposed joint Pension Committee and Pension Board Training Plan for 2024/25 which is included in the paper prepared by Aon entitled ‘Croydon Training Activity and Plan’ as Appendix B.   

 

Additional documents:

6.

Training Update pdf icon PDF 115 KB

This report shows a record of training undertaken by the Pension Committee members in Year 2023/24 to 20 February 2024. The report includes a log of training undertaken attached to the report as Appendix A and a log of training completed accessed through the Hymans Robertson training portal to 31 January 2024 attached to this report as Appendix B.

 

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7.

Pension Fund Governance: Pension Fund Communications Policy Statement  pdf icon PDF 116 KB

This report asks the Committee to consider and agree the Fund’s Communications Policy Statement, prepared in accordance with Regulations, Guidance and best practice, as attached as Appendix A.

 

Additional documents:

8.

Croydon Council Pension Fund Data Retention and GDPR pdf icon PDF 103 KB

Croydon Council, as administering authority for the Local Government Pension Scheme, must periodically review and update documentation relating to the UK General Data Protection Regulations (UKGDPR) and the Data Protection Act 2018 (DPA) to ensure compliance with the regulations.

 

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9.

Croydon Pensions Administration Team Key Performance Indicators for the Period November 2023 to January 2024 pdf icon PDF 109 KB

The report sets out the Key Performance Indictors, measured against the legal requirements for the administration of the Local Government Pension Scheme for the three-month period up to the end of January 2024. 

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10.

Review of Breaches of the Law pdf icon PDF 103 KB

This report presents the current Breaches of the Law log (in Appendix A) for the Pension Fund and highlights any changes made since the last review carried out at the Pension Committee meeting held on 12 December 2023. 

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11.

Audit Findings Report pdf icon PDF 114 KB

This report asks the Pension Committee to note “The Audit Findings Report for the London Borough of Croydon Pension Fund” for the year ended 31 March 2020, as prepared by Grant Thornton UK LLP and attached as Appendix A.

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12.

Local Government Pension Scheme Advisory Board / The Pensions Regulator Update pdf icon PDF 247 KB

This report advises the Committee of the matters currently being considered by the Local Government Pension Scheme Advisory Board and The Pensions Regulator which are relevant to the Fund. Any implications for the Fund have been noted and are being addressed in consultation with Fund advisers.

13.

Inter-valuation Funding Update 31 December 2023 pdf icon PDF 98 KB

The report updates the Pension Committee on the funding position at 31 December 2023. It informs Committee of the changes in the funding environment since the 2022 valuation and identifies areas to consider when planning for the 2025 valuation. The detailed report has been prepared by Hymans Robertson who act as the Actuary for the London Borough of Croydon Pension Fund (‘the Fund’). The report is attached as Appendix A.

Additional documents:

14.

Part A Progress Report for the Quarter Ended 31 December 2023 pdf icon PDF 170 KB

The report updates Pension Committee on the Fund’s Investments over the quarter to 31 December 2023.

 

The report provides an update on the Fund’s performance for the quarter to 31 December 2023.  The report falls into four parts.  Section 1 addresses performance against strategic goals.  Section 2 considers the asset allocation strategy and how that is being applied, specifically current and planned investments.  Section 3 deals with risk management and section 4 summarises updates from any recent investment manager meetings. 

15.

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

16.

Part B Progress Report for the Quarter Ended 31 December 2023

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.

 

17.

Investment in the LCIV MAC Fund

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.

18.

Further Commitments to Existing Funds

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.