Decision status: Recommendations Approved (subject to call-in)
Is Key decision?: No
Is subject to call in?: No
Neil Mason, LGPS Senior Officer
Key points raised during the discussion:
1. The LGPS Senior Officer highlighted several areas of the report including:
2. A Member asked about the governance arrangements for Border to Coast and what member representation there was. The Chairman responded that there was a representative of the Local Pension Boards on the Border to Coast Joint Committee. He also pointed out that as the pools got bigger, then the impact of each Administering Authority would become diluted. The LGPS Senior Officer stated that each Administering Authority was also represented on the Company’s Board.
3. A Member asked if the 5% would be mandated or was guidance. The LGPS Senior Officer explained that Government was proposing to clarify this in the Regulations, but the 5% was not mandated. However, if not compliant then this would need to be explained. He felt that the Joint Committee and Border to Coast were both well positioned in dealing with the Government request.
Actions/ further information to be provided:
That the report and annex be noted.
Publication date: 31/01/2024
Date of decision: 15/12/2023
Decided at meeting: 15/12/2023 - Surrey Pension Fund Committee