Agenda

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

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

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

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.

Verbal update from the Acting Head of Pensions and Treasury.

This report sets out Key Performance Indicators for the administration of the Local Government Pension Scheme for the three-month period up to the end of February 2023.

This report presents to the Board a draft Business Plan for the Fund for financial years 2023/24 to 2025/26 attached as Appendix A. It invites their comments and requests their agreement to the Plan.

This report details the requirements of the SAB Good Governance Review and the Fund’s progress in implementing the recommendations.

This report updates the Board on the review of the Fund’s Risk Management Policy and invites their comments.

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

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 Board to monitor breaches on a regular basis. This report presents the current log (Appendix A) for the Board’s consideration and comment. 

This report advises the Board of training undertaken by the Pension Board members in Year 2022/23 to 28 February 2023 and asks them note the contents of the Logs attached to this report as Appendix A and Appendix B. 

The report shows details of the LGPS National Knowledge Assessment 2022 attached as Appendix C and Appendix D to this report

This report advises the Board 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.

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.”