Agenda

To approve the minutes of the meeting held on 9 June 2023 and to receive information arising from them.

10:20

A copy of the unconfirmed Minutes of the Local Pension Board, which met on 7 July 2023, is attached for information only.

10:25

The report sets out the items the Local Pension Board wishes to draw to the attention of this Committee following their last meeting on 7 July 2023.

10:30

This report will review progress against the key priorities set out in the Annual Business Plan for 2023/24.

10:45

This is the first of a new standard report covering the key governance and communication issues for the Fund, including a report on any breaches of regulation in the last quarter.

11.00

This report will cover the items identified by Members in the survey completed at the end of the last meeting, and any changes required to promote the long term effectiveness of the Committee.

11.15

This report will present the latest position on the Fund’s risk register, including any new risks identified since the report to the last meeting.

11:25

This report updates the Committee on the key administration issues including service performance measurements, the debt recovery process and any write offs agreed in the last quarter.

11:40

This report will present the revised Administration Strategy for Committee approval.

11:50

As requested at the last meeting of the Committee, this report will set the approach followed by the Fund to protect scheme members from the risk of pension scams.

12:00

This report will highlight the key issues raised in the recent Government Consultation titled LGPS: Next Steps on Investments and seek Committee approval to the draft response.

12:10

This report will cover an overview of the financial markets, the overall performance of the Fund’s investments against the Investment Strategy Statement and commentary on any issues related to the specific investment portfolios. The report includes the quarterly investment performance monitoring report from Brunel.

12:30

This report presents the draft Annual Report and Accounts for the Pension Fund, including the latest TCFD report, and progress against the targets set in the Fund’s Climate Change Policy.

12:45

This report includes the Stewardship Policy submitted to the Financial Reporting Council as our application under the Stewardship Code. The outcome of the application will be reported to the Committee if known by the date of the Committee. The report will also cover the latest Responsible Investment and Stewardship Outcomes Summary published by Brunel.

The Committee is RECOMMENDED that the public be excluded for the duration of item 19 in the Agenda since it is likely that if they were present during those items there would be disclosure of exempt information as defined in Part I of Schedule 12A to the Local Government Act 1972 (as amended) and specified in relation to the respective items in the Agenda and since it is considered that, in all the circumstances of each case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

THE REPORTS RELATING TO THE EXEMPT ITEMS HAVE NOT BEEN MADE PUBLIC AND SHOULD BE REGARDED AS STRICTLY PRIVATE TO MEMBERS AND OFFICERS ENTITLED TO RECEIVE THEM.

NOTE: In the case of item 19 there are no reports circulated with the Agenda. Any exempt information will be reported orally.

13:00

This report will update the Committee on the current contractual position for the provision of independent advice and recommend the Committee on the approach to future provision.