Issue - meetings

The Board are invited to review the latest position against the Annual Business Plan for 2020/21 as considered by the Pension Fund Committee at their meeting on 11 September 2020.

The Board reviewed the latest position against the Annual Business Plan for 2020/21 as considered by the Pension Fund Committee at their meeting on 11 September 2020.

Sean Collins, Service Manager Pensions introduced the contents of the report highlighting the 4 key objectives.

During discussion the following points were made:

·           There was a need for a robust training plan to be in place for Pension Fund Committee members particularly should there be changes following the elections next year.

·           There was concern over the format of the report, that was seen as being overly discursive. It would benefit from greater structure with the addition of judgements from officers to determine if matters were on track. In response to a comments that it was difficult to be critical of papers that belonged to the Pension Fund Committee the Chairman reassured members that the role of the Board was to oversee and scrutinise and that it was the Board’s legitimate role to comment. Comments were taken back to the Pension Fund Committee. Sean added that he would echo the comments of the Chairman and on the specific point could see the value of adding information such as a table on key objectives.

·           It was noted that 99.5% of this year’s annual benefit statements had been done within the deadlines.

10:35

This report will review progress against the key objectives and budget set out in the 2020/21 Business Plan.  Full reports on the objectives in respect of implementing the Climate Change Policy and improving the Governance of the Fund are included later on in the agenda.

The Committee is RECOMMENDED to note the progress against the key service priorities and the budget as set out in their annual business plan for 2020/21.

Recommendations Agreed.

The Committee had before it a report (PF7) which reviewed progress against the key objectives and budget set out in the 2020/21 Business Plan.  Full reports on the objectives in respect of implementing the Climate Change Policy and improving the Governance of the Fund were included later on in the agenda.

Mr Collins reported that in terms of Brunel the report updated the current position and confirmed the fact that Brunel had restarted the transitions and that they were due to transition the monies from UBS portfolio to the Brunel portfolio at the end of the month and that the report also looked at further improved engagement with scheme members.

RESOLVED:to note the progress against the key service priorities and the budget as set out in their annual business plan for 2020/21.