Agenda

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Contact: Deborah Miller  Tel: 07920 084239; Email:  deborah.miller@oxfordshire.gov.uk

Items
No. Item

1.

Apologies for Absence

2.

Welcome by Chairman

3.

Declarations of Interest - see guidance note opposite

4.

Petitions and Public Address

5.

Minutes pdf icon PDF 206 KB

To approve the minutes of the meeting held on  25 October 2019 (LPB5) and to receive information arising from them.

6.

Review of the Annual Business Plan pdf icon PDF 228 KB

The Board are invited to review the latest position against the Annual Business Plan for 2019/20 as considered by the Pension Fund Committee at their meeting on 6 December 2019.

 

Additional documents:

7.

Risk Register pdf icon PDF 197 KB

This is the latest risk register as considered by the Pension Fund Committee on 6 December 2019.  The Board are invited to review the report and offer any further views back to the Committee.

 

Additional documents:

8.

Administration Report pdf icon PDF 244 KB

The Board are invited to review the latest Administration Report as presented to the Pension Fund Committee on 6 December 2019, including the latest performance statistics for the Service, and to offer any comments to the Pension Fund Committee.

 

Additional documents:

9.

Fund Valuation pdf icon PDF 209 KB

This report updates the Board on the latest position on the 2019 Valuation exercise including the current consultation on the draft Funding Strategy Statement and employer results.  The Board are invited to offer any further comments to the Pension Fund Committee in advance of formal sign off of the Funding Strategy Statement at the March Committee. 

 

The Board are RECOMMENDED to note the latest position on the 2019 Valuation and provide any comments back to the Pension Fund on the process or the latest version of the Funding Strategy Statement.

 

 

Additional documents:

10.

Exempt Item

In the event that any Member or Officer wishes to discuss the information set out in Annexes 2 and 3 to Item 11, the Board will be invited to resolve to exclude the public for the consideration of those Annexes by passing a resolution in relation to that item in the following terms:

 

"that the public be excluded during the consideration of the Annexes since it is likely that if they were present during that discussion there would be a disclosure of "exempt" information as described in Part I of Schedule 12A to the Local Government Act, 1972 and specified below the item in the Agenda".

 

NOTE: The report does not contain exempt information and is available to the public. The exempt information is contained in the confidential annexes.

 

THE ANNEXES TO THE ITEM NAMED HAVE NOT BEEN MADE PUBLIC AND SHOULD BE REGARDED AS ‘CONFIDENTIAL’ BY MEMBERS AND OFFICERS ENTITLED TO RECEIVE THEM.

 

THIS IS FOR REASONS OF COMMERCIAL SENSITIVITY.

 

THIS ALSO MEANS THAT THE CONTENTS SHOULD NOT BE DISCUSSED WITH OTHERS AND NO COPIES SHOULD BE MADE.

 

11.

Cyber Security pdf icon PDF 221 KB

The information contained in annexes 2 and 3 is exempt in that it falls within the following prescribed category:

 

3.         Information relating to the financial or business affairs of any particular person (including the authority holding that information);

 

and since it is considered that, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information, in that disclosure would undermine the process to the detriment of the Council’s ability properly to discharge its fiduciary and other duties as a public authority.

 

This report was requested at the last meeting of the Pension Board.  It covers the risks associated with cyber security in respect of both the Fund’s investments and in respect of the administration of the Fund itself and sets out the current approach to the mitigation of these risks.  The Board is invited to consider the report and offer any comments to the Pension Fund Committee.

 

The Board are RECOMMENDED to note the latest position on cyber security and advise the Pension Fund Committee as appropriate.

 

Additional documents:

12.

The Pension Regulators Code of Practice 14 pdf icon PDF 264 KB

At the request of the last meeting of the Board, this report covers the Pension Regulators Code of Practice 14, setting out the key features of the Code, the guidance offered to Pension Board Members and the extent to which this guidance is currently followed.  The Board are invited to comment on what changes if any they wish to make to the current arrangements.

 

The Board is RECOMMENDED to note the practical guidance set out in the Code of Practice 14 and determine whether they wish to make any changes to the current arrangements for this Board to ensure they are meeting the standards of conduct and practice expected.

 

 

13.

Items to Include in Report to the Pension Fund Committee

Following the request from the Chairman of the Pension Fund Committee, there is now a standing item on the Committee agenda for this Board to report back to the 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.