Agenda and minutes
Venue: County Hall, Kingston upon Thames, KT12DN
Contact: Sharmina Ullah
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APOLOGIES FOR ABSENCE AND SUBSTITUTIONS
Minutes:
There were no apologies to report.
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MINUTES FROM THE PREVIOUS MEETING: 18 JANUARY 2018 PDF 229 KB
To agree the minutes as a true record of the meeting. Minutes: The minutes were agreed as an accurate record of the meeting. |
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DECLARATIONS OF INTEREST
To receive any declarations of disclosable pecuniary interests from Members in respect of any item to be considered at the meeting.
Notes: · In line with the Relevant Authorities (Disclosable Pecuniary Interests) Regulations 2012, declarations may relate to the interest of the member, or the member’s spouse or civil partner, or a person with whom the member is living as husband or wife, or a person with whom the member is living as if they were civil partners and the member is aware they have the interest. · Members need only disclose interests not currently listed on the Register of Disclosable Pecuniary Interests. · Members must notify the Monitoring Officer of any interests disclosed at the meeting so they may be added to the Register. · Members are reminded that they must not participate in any item where they have a disclosable pecuniary interest.
Minutes: There were none. |
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QUESTIONS AND PETITIONS
To receive any questions or petitions.
Notes:
1. The deadline for Member’s questions is 12.00pm four working days before the meeting (17 April 2018). 2. The deadline for public questions is seven days before the meeting (16 April 2018) 3. The deadline for petitions was 14 days before the meeting, and no petitions have been received. Minutes: There were none. |
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ACTIONS AND RECOMMENDATIONS TRACKER: APRIL 2018 PDF 153 KB
Purpose of the report:
The Board is asked to note its action tracker. Minutes: Key points raised during the discussion:
Actions/ further information to be provided:
Officers to provide an update report on employer discretions detailing how the issue will be resolved and what resources would be employed to achieve this.
Officers to provide a project plan update on AVC arrangements.
Recommendations:
The Board noted its actions and recommendations tracker.
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SUMMARY OF PENSION FUND COMMITTEE MEETING(S): 9 FEBRUARY 2018, 26 MARCH 2018 PDF 284 KB
Purpose of the report:
The Board is asked to note the content of this report.
Minutes: Declarations of interest: None
Witnesses: Neil Mason, Head of Pensions
Key points raised during the discussion:
Actions/Further information to be provided:
Officers to report back at the next meeting on monitoring and advising members who are in danger of breaking annual and lifetime allowance.
Recommendations:
The Board noted the contents of this report.
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ADMINISTRATION UPDATE: 1 JANUARY 2018 - 31 MARCH 2018 PDF 208 KB
Purpose of the report:
The Board is asked to note the content of this report and make recommendations if any further action is required.
Additional documents: Minutes: Declarations of interest: None
Witnesses: Neil Mason, Head of Pensions John Smith, Senior Advisor (Pension Fund) Sue Grimstead, Pensions Ops Manager (Existing Work) Natalie Wilton, Support Officer
Key points raised during the discussion:
GMP
Complaints
GDPR
CIPFA
Actions/ further information to be provided:
Officers to provide a follow up report on GMP reconciliation detailing the progress with stage 3.
Officers to provide firm dates when outstanding actions on the administration improvement plan will be complete.
Officers to provide further information and consider a greater level of comparison for future CIPFA benchmarking report.
Officers to provide an update on GDPR implementation at the next meeting.
Recommendations:
The Board noted the content of this report.
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ADMINISTRATION PERFORMANCE REPORT: 1 JANUARY 2018 - 31 MARCH 2018 PDF 169 KB
Purpose of the report:
The Board is asked to note the content of this report and make recommendations to the Pension Fund Committee if appropriate.
Additional documents: Minutes: Declarations of interest: None
Witnesses: Neil Mason, Head of Pensions Sue Grimstead, Pensions Ops Manager (Existing Work)
Key points raised during the discussion:
Actions/ further information to be provided:
Officers to report back on the ‘tolerable’ level on refunds processing.
Recommendations:
The Board noted the content of this report.
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RISK REGISTERS 2017/18 (QUARTER 4) PDF 113 KB
Purpose of the report:
The Board is asked to note the content of this report and the Fund Risk Register (shown as Annex 1) and Administration Risk Register (shown as Annex 2) and make recommendations to the Pension Fund Committee (Committee) if required.
Additional documents: Minutes: Declarations of interest:
None
Witnesses: Neil Mason, Head of Pensions John Smith, Senior Advisor (Pension Fund)
Key points raised during the discussion:
a) A8, conflicting priorities (Orbis, SCC vs SPF, Pensions, pooling) leads to lack of overall strategy, confusion and missed opportunities.
b) A12, failure to identify GMP liability leads to ongoing costs for the Pension Fund.
Actions/ further information to be provided:
None
Recommendations:
The Board noted the content of this report and made the following recommendations;
a) Officers to consider including a risk on GDPR b) Officers to consider reviewing mitigating actions for risk 1, 2, 3, 5 and 8.
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REVIEW OF INTERNAL DISPUTE RESOLUTION CASES IN 2017/18 (QUARTER 4) PDF 170 KB
Purpose of the report:
The Board is asked to note the content of this report.
Minutes: Declarations of interest: None
Witnesses: John Smith, Senior Advisor (Pension Fund)
Key points raised during the discussion:
Actions/ further information to be provided:
None
Recommendations:
The Board noted the content of this report.
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TRANSITION PLAN: VERBAL UPDATE
The Board will receive a verbal update from the Head of Business Operations. Minutes: Declarations of interest: None
Witnesses: Simon Pollock, Head of Business Operations Robert Clarke, Head of Business Operations (North)
Key points raised during the discussion:
Actions/ further information to be provided:
None
Recommendations:
The Board noted the verbal update.
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ANNUAL SERVICE REVIEW AND CONTINUOUS IMPROVEMENT REPORT: VERBAL UPDATE
The Board will receive a verbal update from the Head of Business Operations.
Minutes: Declarations of interest: None
Witnesses: Simon Pollock, Head of Business Operations Robert Clarke, Head of Business Operations (North)
Key points raised during the discussion:
Claire William-Morris left at 12:18pm
Actions/ further information to be provided:
None
Recommendations:
The Board noted the verbal update.
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TRAINING BULLETIN (QUARTER 4) PDF 220 KB
Purpose of the report:
This paper presents an outline of recent developments in pensions and it is intended tohelp board members develop a broader understanding of the issues.
Minutes: Declarations of interest: None
Witnesses: John Smith, Senior Advisor (Pension Fund)
Key points raised during the discussion:
Actions/ further information to be provided:
Officers to consider providing Members with investment training.
Recommendations:
The Board noted the content of this report.
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SURREY LOCAL PENSION BOARD FORWARD PLAN PDF 97 KB
Purpose of the report:
The Board to note and review its Forward Plan. Minutes: Declarations of interest: None
Witnesses: Neil Mason, Head of Pensions
Key points raised during the discussion:
Actions/ further information to be provided:
Officers to clearly identify and separate standing items from other items on the Forward Plan.
Recommendations:
The Board noted its Forward Plan.
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EXCLUSION OF THE PUBLIC
Recommendation: That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information under the relevant paragraphs of Part 1 of Schedule 12A of the Act.
PART TWO – IN PRIVATE Minutes: Resolved: That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information under the relevant paragraphs of Part 1 of Schedule 12A of the Act.
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BORDER TO COAST UPDATE
Purpose of the report:
The Board is asked to note the content of this report.
Minutes: Key points raised during the discussion:
Resolved: That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information under the relevant paragraphs of Part 1 of Schedule 12A of the Act.
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PUBLICITY OF PART 2 ITEMS
To consider whether the item considered under Part 2 of the agenda should be made available to the Press and public. Minutes: RESOLVED: The board agreed not to disclose the information relating to the the Part 2 item as it was commercially confidential.
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DATE OF THE NEXT MEETING
The next meeting of the Local Pension Board meeting will be held on 25 July 2018. Minutes: The next meeting of the Local Pension Board will be held on 25 July 2018.
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