Agenda

Surrey Pension Fund Committee
Friday, 7 June 2019 10.00 am

Venue: Ashcombe Suite, County Hall, Kingston upon Thames, Surrey KT1 2DN

Contact: Ben Cullimore  Email: ben.cullimore@surreycc.gov.uk

Items
No. Item

1.

APOLOGIES FOR ABSENCE AND SUBSTITUTIONS

2.

DECLARATIONS OF INTEREST

    All Members present are required to declare, at this point in the meeting or as soon as possible thereafter

    (i)            Any disclosable pecuniary interests and / or

    (ii)           Other interests arising under the Code of Conduct in respect of any item(s) of business being considered at this meeting

    NOTES:

    ·         Members are reminded that they must not participate in any item where they have a disclosable pecuniary interest

    ·         As well as an interest of the Member, this includes any interest, of which the Member is aware, that relates to the Member’s spouse or civil partner (or any person with whom the Member is living as a spouse or civil partner)

    ·         Members with a significant personal interest may participate in the discussion and vote on that matter unless that interest could be reasonably regarded as prejudicial.

3.

MINUTES OF THE PREVIOUS MEETING: 8 FEBRUARY 2019 pdf icon PDF 191 KB

4.

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 (3 June 2019).

     

    2.    The deadline for public questions is seven days before the meeting (31 May 2019).

     

    3.    The deadline for petitions was 14 days before the meeting, and no petitions have been received.

5.

FORWARD PLAN pdf icon PDF 51 KB

6.

COMPANY ENGAGEMENT & VOTING pdf icon PDF 137 KB

7.

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 the Schedule 12A of the Act.

8.

INVESTMENT MANAGER ISSUES AND PERFORMANCE AND ASSET/LIABILITIES UPDATE

9.

INVESTMENT STRATEGY REVIEW

10.

2019 VALUATION ASSUMPTIONS

11.

BORDER TO COAST UPDATE

12.

PUBLICITY OF PART 2 ITEMS

13.

GOVERNANCE REVIEW pdf icon PDF 164 KB

    As part of the governance and oversight of the Pension Fund, a regular review and update to the governance framework, policies and procedures is essential to ensure that the Fund is compliant with latest legislation, regulations and good practice.

     

    At its meeting of 14 September 2018, the Pension Fund Committee agreed to commission a review of the fund governance. This was carried out by Hymans Robertson.

     

    This report provides details of this review, which includes the definition of a mission statement for the Fund and key strategic objectives in investments, funding, governance and delivery.

    Additional documents:

14.

PENSION FUND ACCOUNTS 2018/19 pdf icon PDF 68 KB

    This report presents the unaudited financial statements of the Pension Fund for the year ended 31 March 2019, in light of Surrey County Council’s obligations as the administering authority under the Local Government Pension Scheme (LGPS) Regulations.

     

    The external auditor (Grant Thornton) will then audit the Accounts, with the Fund aiming for an unqualified opinion.

    Additional documents:

15.

LOCAL PENSION BOARD REPORT pdf icon PDF 69 KB

16.

ADMINISTRATION MONITORING REPORT pdf icon PDF 80 KB

17.

PENSION FUND BUSINESS PLAN 2018/19: OUTTURN REPORT pdf icon PDF 108 KB

    The 2001 Myners Report (later confirmed by the CIPFA/Myners Principles) recommended that local authority pension funds approve an annual business plan in respect of the objectives required for the ensuing year.

     

    Business planning is regarded as an important tool, assisting in the identification of how service delivery can be maximised within resource constraints. This report sets out the outturn of the annual business plan for 2018/19.

18.

MINISTRY OF HOUSING, COMMUNITIES & LOCAL GOVERNMENT (MHCLG) - STATUTORY GUIDANCE ON ASSET POOLING pdf icon PDF 94 KB

19.

CASHFLOW ANALYSIS pdf icon PDF 80 KB

20.

DATE OF NEXT MEETING