Issue - meetings

Report by the Chairman of the Pension Advisory Board.

The Board is asked to note the updates to the Business Plans of the Board and of the Pensions Committee.

6.1        The Board received a report by the Chairman of the Pension Advisory Board (copy appended to the signed minutes).

6.2        The Chairman introduced the report and noted that lack of progress in the Board’s activity plan was due to waiting for matters/guidance to be developed by Pension Scheme Advisory Board, the Pensions Regulator or the Government. Otherwise, the plan was on schedule.

6.3        It was confirmed that all members of the Pensions Committee, the Board and council officers are expected to compete the on-line Academy training in time for the next meetings in autumn. The Chairman advised he had completed this training and this will be reflected in the next monthly report.

6.4        It was also confirmed that the training strategy highlighted that Pensions Committee members are required to undertake the same training as Board members.

6.5        Resolved – That the Business Plan updates of the Board and the Pensions Committee are noted (and that the Training Strategy is included as a separate document).

Report by the Director of Finance and Support Services.

The Committee is asked to note the updates on Business Plan activities; agree the Training Strategy; and note the risk matrix for the Fund.

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

7.2        Rachel Wood introduced the report and highlighted that the training strategy was included as an appendix.  The Hymans LGPS Online Learning Academy (LOLA) was highlighted, for which Committee members were required to complete by October.

7.3        The Committee made comments including those that follow.

•      Queried the risk for work priorities due to vacancies.  – Rachel Wood confirmed that the recruitment was scheduled for October/November and that the following the change in fund administration it was a good time to review the team.

•      Asked about the deadlines for McCloud.  – Rachel Wood reported that there was a two/three year deadline.  Data collection work was ongoing and that clarity was being sought from MHCLG on process.

•      Sought clarity on training recommendations.  – Rachel Wood explained that agenda items now included reference to the relevant training on the Hymans LGPS Online Learning Academy (LOLA).  The Committee members were required to complete all Hymans LGPS Online Learning Academy (LOLA) modules by October.

•      Queried if completion of the Pensions Regulator training programme was required.  – Rachel Wood reported that discussions were taking place with Hymans Robertson to see if their Online Learning Academy completion was sufficient for the Committee.  It was confirmed that the Pensions Advisory Board were required to complete both.

7.4        Resolved – that The Committee notes the updates on Business Plan activities for 2021/22; agrees the Training Strategy as set out in Appendix A; and notes the risk matrix for the Fund as set out in Appendix B.