Decision details

23.1     The Committee considered a report by the Director of Finance and Support Services (copy appended to the signed minutes).

23.2     Taryn Eves, Director Finance and Support Services, introduced the report and drew the Committee Members’ attention to the key points as set out in the summary.

23.3     Vickie Hampshire, Finance Manager, Pension Fund Governance, highlighted, as set out at Appendix C, that Committee Members would receive an email later in the day concerning the LGPS Knowledge Progress Assessment and were asked to complete the assessment by 14 November 2023.

23.4     The Committee made comments including:

a.   to highlight that the mandate with property manager Abrdn had been extended to September 2024 to fit in with the procurement process for a new contract

b.   to question on RT 12, employer admissions, how many employers were coming into the Scheme, what the eligibility requirements were and whether any employer could be refused.  Rachel Wood, Pension Fund Strategist, explained that 20 employers had joined the West Sussex Scheme in the last year and 11 more were scheduled to join and that the majority of these employers were academies.  Rachel Wood further explained that there was no discretion on the acceptance of academy employers and most admitted bodies following an outsourcing so these were normally admitted.  In the case of community interest bodies, there was more discretion, including the option to refuse admission

c.    to question whether problems with employers not providing the required data contributed to risk RT12.  Steven Law, Fund Actuary, explained that this was the case, also that the smallest employers could take up a great deal of officer time and that most outsources of schools to academies take place from 01 September which makes this a very busy period.  Steven Law also pointed out that there was a risk to pension fund members of any delay in signing initial joining agreements, in that the pension fund sees such members as deferred during that time

d.   to question on RT 13, risk of cyber-attack, when this might be expected to improve from red to amber.  The Chairman explained his understanding that this risk was ever-present and despite continued management and mitigation would never move from red to amber as cyber-attacks could not be prevented

e.   to question whether there was a risk around the County Council’s anticipated new content management system, Smartcore.  Taryn Eves explained that at this stage no risk was identified but, at a later date, adequate staff resource requirements related to the implementation of the new system would be considered.

23.5       Resolved – that:

1.   The Committee noted the update on Business Plan activities for 2023/24

2.   The Committee provided comments on the risk matrix and audit work

3.   The Committee Members reviewed the training completed and advised officers of any additional requirements to support their development of the necessary skills and knowledge to act effectively as members of the Committee.