Decision details

Declarations of interest:

None.

Key points raised during the discussion:

1.    The Senior Advisor (Pension Fund) introduced the report.  He informed the committee that legal advice had just come in stating that there is no impediment to the Chairman of the Local Pension Board having a casting vote.   Therefore, for consistency with the rest of the council’s committees, it was recommended and agreed that the following should be added to paragraph 4.1.2 of the Terms of Reference:

“If consensus is not reached, the Chairman to have a second or casting vote”.

2.    The Chairman suggested that the Local Pension Board minutes should include a list of those in attendance throughout the meeting (Recommendation tracker ref: A13/15).

3.    The Vice-Chairman of the Local Pension Board was invited to speak and he stressed the steep learning curve and requested that joint training sessions be arranged for the future.  He also informed the committee that he hoped to have more members of the Board observing committee meetings in future.  The Chairman suggested that training sessions be held on separate days to the committee meetings in future but stressed that this should not result in decreased attendance at training. It was suggested that members of the committee could discuss the strategic approach to investment during these separate sessions.

Actions/Further information to be provided:

Local Pension Board minutes to include a list of those in attendance throughout the meeting.

Resolved:

That the Surrey Pension Fund Committee:

1.    Notes the report; and

2.    Approves amendments to the terms of reference of the Local Pension Fund Scheme, including the addition reported above.

Next steps:
None.