Oxfordshire County Council logo

Agenda and minutes

Venue: Council Chamber - County Hall, New Road, Oxford OX1 1ND. View directions

Contact: Julie Dean  Tel: 07393 001089; E-Mail:  julie.dean@oxfordshire.gov.uk

Items
No. Item

23/17

Election of Chairman for the 2017/18 Council Year

Minutes:

It was proposed, seconded and it was:

 

RESOLVED:  (nem com) That Councillor Bulmer be elected Chairman of the Committee for the 2017/18 Council Year.

24/17

Election of Deputy Chairman for the 2017/18 Council Year

Minutes:

It was proposed seconded and it was:

 

RESOLVED:             (nem com) That Councillor Ian Corkin be elected Deputy Chairman of the Committee for the 2017/18 Council Year.

 

25/17

Apologies for Absence and Temporary Appointments

26/17

Brunel Pension Partnership - Appointment of Representative for the Shadow Oversight Board

Under the last Council, the Oxfordshire Pension Fund committed to developing the Brunel Pension Partnership alongside 9 other Local Government Pension Schemes (LGPS).  This was in direct response to a new regulatory requirement for all English and Welsh LGPS Funds to pool the investment of their Funds.  The work on developing the Partnership has been overseen by the Shadow Oversight Board which includes a representative of each of the 10 LGPS Funds within the Partnership.  The Shadow Oversight Board has no formal decision making powers, but is a key opportunity for Funds to provide influence into the final papers presented to the individual Pension Fund Committees.  Each Committee is free to select their own representative and a deputy to cover meetings in their absence, and whilst the representative in most cases is the Committee Chairman, this does not need to be the case.  Under the last Council, the Pension Committee selected their Chairman, Cllr Stewart Lilly to act as their representative, with Cllr Nick Hards to act as his Deputy.

 

The next meeting of the Shadow Oversight Board is on 30 May 2017 in Bristol.  This is a key meeting, looking for input into the final legal documents to create the new company to manage the pooled investments going forward.  These legal documents will then be presented to the first full meeting of the new Pension Fund Committee for formal sign off.  The legal documents include the Shareholders Agreement for the new Partnership, and the Articles of Association for the new company, and a number of key schedules including company remuneration policy.

 

At the 23 June meeting the full Committee will be invited to approve the full suite of legal documents, the establishment of the new Company and the establishment of the Oversight Board.  The June Committee will be asked to make the appointment of a representative and deputy to sit on the Oversight Board, and to act as the Shareholder’s representative for the Oxfordshire Pension Fund.

 

The Committee is RECOMMENDED to select a member to represent it at the Shadow Oversight Board on 30 May 2017 in Bristol.  The representative will be supported by Fund Officers for the meeting, as well as receiving briefings in advance of the meeting itself.

 

 

Minutes:

RESOLVED:             that Councillor Bulmer represent Pension Fund Committee at the Shadow Oversight Board on 30 May 2017 in Bristol.  The Chairman will be supported by Fund Officers for the meeting, as well as receiving briefings in advance of the meeting itself.

 

 

 

27/17

Date of Next Meeting

The next meeting of the Pension Fund Committee will take place on Friday 23 June 2017.

 

Please keep the whole day free in your diaries for this meeting.

Minutes:

RESOLVED:             That members be consulted on the date of the next meeting.