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 4 December 2020.  In particular, they are invited to comment on the changes to the format of the report, following their comments at the last meeting of the Board.

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 4 December 2020.  In particular, they were invited to comment on the changes to the format of the report, following their comments at the last meeting of the Board.

In generally welcoming the changes to the format of the report members recognised that further changes might be needed in order to get the right balance between detail and accessibility of the information. It was suggested that:

·       It would be helpful to see the addition of a direction of travel indicator to the RAG rating. The RAG rating could be made clearer by the use of an additional column or the use of words as it was difficult to read in paper copy as that was only black and white and it was difficult to judge the shades of grey.

·       It would be helpful to have some narrative at the end of each of the 4 blocks of information.

·       Going forward the next steps column would be improved by being sharpened to include SMART information such as what, when by and who by.

·       Further work was needed to map business development and the annual business plan against risk.

Sean Collins, Service Manager Pensions, welcomed the comments and agreed that it was an iterative process. The Pensions Fund Committee had also welcomed the changes in format.

Members commented on the content of the report and Sean Collins in response to a query indicate that there were no Next Steps against the Governance Section as the Review was still ongoing.

10:50

Report by Director of Finance (PF7).

This report sets out progress against the key service priorities and the budget set for the Fund within its approved annual business plan.

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.

Consideration was given to a report which set out the progress against the key service priorities included in the 2020/21 Annual Business Plan for the Pension Fund as agreed at the March meeting of this Committee.

Reference was made to the 4 Key Service Priorities for 2020/21. Members were informed that the report had been amended as a result of comments made at the Pension Board meeting. The report had therefore been amended to show the position against each of the service priorities in tabular form, with Officers assessment of the progress against each of the measures of success shown using a traffic light system.

Work against the 2020/21 business plan has been undertaken largely in line with the agreed budget with just a couple of major exceptions forecast at this time. Reference was made to the table in the report which showed the actual expenditure during the first half of the financial year compared to budget, as well as an end of year forecast.

RESOLVED - That the progress made against the key service priorities and the budget as set out in their annual business plan for 2020/21 be noted.