Decision details

30.1   The Committee considered a report by the Director of Finance, Performance and Procurement (copy appended to the signed minutes) on the business plan and budget of the Pension Advisory Board for 2017/18. The Committee was also asked to endorse a recommendation that the number of members and number of meetings of the Board should be increased.  It was noted that the report did not include the work programme for 2018/19 and that the reference to the budget in recommendation (1) should be to the 2018/19 budget.

30.2   Members queried paragraph 3.2.1 of the report and the fact that the independent Chairman of the Board did not have voting rights and asked what would happen if a vote by the Board was tied.  The Director of Finance, Performance and Procurement said she would check the position.

Note: The guidance on the creation and operation of Local Pension Boards issued by the Scheme Advisory Board in 2015 sets out that an independent chairman is classified as an ‘other member’ i.e. not an employer or member representative, that voting rights must be split equally between employer and member representatives and that ‘other members’ do not have voting rights on the Board.  The terms of reference for the Board state that the independent chairman should strive as far as possible to achieve a consensus as an outcome. The Board is not considered to be a decision-making body and has not had to call a vote to date.  The risk of an impasse arising is therefore considered to be very low.

30.3   Resolved –

(1)     That the work of the Pension Advisory Board during 2017/18 be noted and the budget for 2018/19 be approved; and

(2)     That the proposed increase to the number of members and the number of meetings of the Board be approved and delegation given to make these changes to the Pension Advisory Board terms of reference be endorsed for recommendation to the County Council.