Issue - meetings

10:10

Attached at PF6 is the report of the Local Pension Board to this Committee. It invites the Committee to respond to the key issues raised by the Pension Board at their most recent meeting.

The Committee is RECOMMENDED to:

(a)   note the concerns of the Board in respect of the Business Plan and Risk Register and consider them further at the relevant items later in the agenda;

(b)  agree a definition of material breach in respect of the statutory requirement to issue Annual Benefit Statements to be used in assessing performance in issuing the 2017/18 statements;

(c)  agree to review the process for determining the response to Reserved Matter Items for the Brunel Pension Partnership at the end of 2018/19 in light of this year’s experience;

(d)  consider the consultation process by which scheme member views can be best obtained in advance of the next review of the Investment Strategy Statement; and

(e)  endorse the proposal for all Committee and Board member to complete the assessment tool produced by Hymans Robertson as a means for establishing the priorities for a future training day.

Detailed decisions of Committee’s consideration of the Board’s recommendations to appear in full minutes.

(a)  noted – considered later in Agenda at items 8 and 9;

(b)  it was noted that Officers strove to attain the 100% target set by the Pensions Regulator – however, it was agreed that a material breach target should be in the form of a reasonable guideline, which would be reviewed at the September 2018 meeting;

(c)  agreed;

(d)  the Committee agreed that it was in the role of the Scheme member representative on the Board to obtain the views of scheme members; and

(e)  it was agreed to endorse this proposal without delay.

The Committee had before them the latest report of the Local Pension Board (PF6) in which it was asked to note the comments contained in the report and to undertake any suggested action contained in it. The decisions of the Committee in relation to this are as set out below.

RESOLVED: to thank the Board for the report and to:

(a)  note the concerns of the Board in relation to the Business Plan and Risk Register and to consider them later at Agenda Items 8 and 9 respectively;

(b)  inform the Board that it was the Committee’s view that officers always strived to attain the 100% target set by the Pensions Regulator – however, a material breach target should be in the form of a reasonable guideline which would be the subject of a review at the September 2018 meeting;

(c)  agree to review the process for determining the response to Reserved Matter Items for the Brunel Pension Partnership at the end of 2018/19, in light of this year’s experience;

(d)  inform the Board that it was part of the role of the Scheme member representative on the Board to obtain the views of scheme members; and

(e)  endorse the Board’s proposal for all Committee and Board members to complete the assessment tool produced by Hymans Robertson as a means for establishing the priorities for a future training day without delay.