Agenda

Pension Committee - Tuesday, 6th December, 2022 10.00 am

Venue: Room 1.01 and 1.02 - Bernard Weatherill House, Mint Walk, Croydon CR0 1EA. View directions

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 110 KB

To approve the minutes of the meeting held on Tuesday, 11 October 2022 as an accurate record.

Additional documents:

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.

Breaches of the Law Log pdf icon PDF 108 KB

It is consistent with The Pension Regulator’s Code of Practice that the Pension Fund maintains 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 and comment. 

 

Additional documents:

6.

Administration Performance Report pdf icon PDF 80 KB

This report sets out Key Performance Indicators for the administration of the Croydon Pension Fund (the Fund) for the three-month period up to the end of October 2022.

 

Additional documents:

7.

Risk Register Review pdf icon PDF 76 KB

It is recommended best practice for the Pension Committee to maintain a risk register covering the most significant risks faced by the Fund. This report presents the current register (Appendix A) for the Committee’s consideration. 

Additional documents:

8.

Review of Committee Training pdf icon PDF 93 KB

This report advises the Committee of training undertaken by the Pension Committee members in Year 2022/23 to 22 November 2022 and asks them to note the contents of the Log attached to this report as Appendix A.

 

Additional documents:

9.

Constitution Changes pdf icon PDF 100 KB

This report makes recommendations to the Committee regarding amendments to the proposed constitutional changes which were presented to the Committee at their meeting on 11 October 2022 which the Committee are asked to agree.

 

10.

Contracts for the Provision of Actuarial and Global Custody Services pdf icon PDF 148 KB

This report explains to the Committee some of the procedures in respect of the procurement of professional services for the Fund and discusses the current position as regards the letting of contracts for:

 

·       Actuarial Services

·       Global Custody Services

 

11.

Update on SAB and TPR news pdf icon PDF 125 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 advisors.

 

12.

Progress Report for Quarter Ended 30 September 2022 pdf icon PDF 191 KB

This report provides an update on the Fund’s performance for the quarter to 30 September 2022.  The report falls into four parts.  Section 1 addresses performance against strategic goals.  The second section considers the asset allocation strategy and how that is being applied, specifically current and planned investments.  The third section deals with risk management and the fourth and final section summarises the recent investment manager site visit. 

 

13.

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.”

 

14.

Progress Report for Quarter Ended 30 September 2022

15.

Investment Strategy Review

Part B