Issue - meetings

Report by the Chairman of the Pension Advisory Board.

The Board is asked to note the recommendations in the report.

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

54.2   The Board discussed the report and made the following points regarding Appendix A: -

·       Under business planning and performance the number of members that attended the employer AGM in July should read four not three – ACTION: The Chairman to update the report.

·       Under governance arrangements the special presentation made by internal audit was not made at the February meeting - ACTION: Rachel Wood to advise when the presentation would take place.

·       Under governance arrangements the review of internal procedures and controls relating to third party contracts by internal audit did not take place in February - ACTION: Rachel Wood to advise when the review would take place.

·       Under communications a note to be added that communications were further reviewed at the February meeting – ACTION: The Chairman to update the report.

·       Under Pension Advisory Board 2019/20 training the entry for Internal Audit to be deleted and entry for Becky Caney attending CIPFA LPB Spring Seminar to be deleted – ACTION: The Chairman to update the report.

·       Dates to be added to the Pension Advisory Board 2019/20 training table – ACTION: Rachel Wood to add dates to the table when it is incorporated into the Board’s annual report.

·       All Board members to be made aware that the Annual General Meeting will take place on 22 July.

54.3 - The Board made the following points regarding Appendix D: -

·       The Council was compliant with the Competition and Markets Authority’s order that pension scheme trustees and managers set objectives for their investment consultants.

·       Data quality was showing as red in the risk register – a data improvement plan was in hand to improve this.

54.4   Resolved – That the Board agrees the recommendations in the Business Planning and Performance report.

Report by the Director of Finance and Support Services.

The Panel is asked to note the updates to the Business Plan.

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

48.2   Katharine Eberhart introduced the report and explained that it provided an update on the Business Plan priorities in the third quarter. 

48.3   The Panel made comments including those that follow.

•     Dr Walsh raised concern about the RAG rating of the poor quality data resulting in error and misstatement. Katharine Eberhart confirmed that the team had a detailed plan to approach this and have agreed a fee for Hampshire to undertake the work.  Andrew Lowe confirmed that clear plans and deadlines for this work were now in place.  An update would be provided at the next meeting when it was hoped that the RAG rating would have improved.

•     It was noted that the Training Strategy was aligned with the Business Plan and was highlighted as Amber due to a number of new staff.

48.3   Resolved – that the Business Plan is noted.