Agenda

Local Pension Board - Friday, 5 July 2024 10.30 am

Venue: Virtual Meeting

Contact: Committee Services Tel: Email: committeesdemocraticservices@oxfordshire.gov.uk

Items
No.	Item
1.	Welcome by Chairman
2.	Apologies for Absence
3.	Declarations of Interest - see guidance note below
4.	Minutes PDF 238 KB To approve the minutes of the meeting held on 03 May 2024 and to receive information arising from them.
5.	Unconfirmed Minutes of the Last Pension Fund Committee PDF 402 KB To receive the unconfirmed minutes of the Pension Fund Committee meeting held on 7 June 2024.
6.	Annual Report of the Pension Board PDF 147 KB This report presents the work of the Board for the 2023/24 financial year. The annex on training undertaken by Board members is currently being compiled and will be circulated to Board members to be checked for accuracy and completeness before final publication. The Board are recommended to approve the report (with any amendments as they deem appropriate) for inclusion in the Fund’s Annual Report and Accounts to be published later this year.
7.	Review of Annual Business Plan PDF 252 KB The Board are invited to review the position against the Annual Business Plan for 2024/25 as considered by the Pension Fund Committee at their meeting on 7 June 2024 and to offer any comments to the Committee.
8.	Risk Register Report PDF 204 KB This is the latest risk register as considered by the Pension Fund Committee on 7 June 2024. The Board are invited to review the report and offer any further views back to the Committee. Additional documents: PFC20240607R12 June 24 - Appendix 1 Risk Register , item 8. PDF 166 KB
9.	Governance and Communications Report PDF 218 KB The Board are invited to review the Governance and Communications Report as presented to the Committee at their meeting on 7 June 2024. The report includes a log of all regulatory and data breaches. Additional documents: PFC20240607R13 June 24 Governance and Communications Report Appendix 1 , item 9. PDF 198 KB
10.	Governance and Communication Policy Reviews PDF 219 KB The board are invited to review the report presented to the Committee on 7 June 2024 which brought the following reviewed policies for Committee approval: - Communications Policy - Governance Policy - Governance Compliance Statement - Regulatory Breaches Policy Additional documents: PFC20240607R14 June 24 - Policy Review APPENDIX 1 Communication Policy , item 10. PDF 339 KB PFC20240607R14 June 24 - Policy Review APPENDIX 2 Governance Policy , item 10. PDF 243 KB PFC20240607R14 June 24 - Policy Review APPENDIX 3 Governance Compliance Statement , item 10. PDF 244 KB PFC20240607R14 June 24 - Policy Review APPENDIX 4 Reporting Breaches of the Law to TPR , item 10. PDF 352 KB
11.	Administration Report PDF 788 KB The Board are invited to review the latest Administration Report as presented to the Pension Fund Committee on 7 June 2024, including the latest performance statistics for the service.
12.	Fund Cashflows and 2025 Triennial Valuation PDF 464 KB This report sets out the context for the 2025 Fund Valuation, the Valuation timetable, key questions which need to be addressed, and the projected cash flow for the Fund and the inter-relationships with the various decisions to be made through the Valuation process. The Board are invited to review the Fund Cashflows Report as presented to the Pension Fund Committee on 7 June 2024. Additional documents: PFC20240607R20 June 24 - Cash Flow Annex 1 Hymans cashflow monitoring report , item 12. PDF 3 MB PFC20240607R20 June 24 - Cash Flow Annex 2 Funding risk update and 2025 valuation planning , item 12. PDF 1001 KB
13.	Items to include in the Report to the Pension Fund Committee The Board are invited to confirm the issues they wish to include in their latest report to the Committee.
14.	Items to be included in the Agenda for the next Board Meeting Members are invited to identify any issues they wish to add to the agenda of the next meeting of this Board.