Agenda

Pensions Panel
Monday, 27th January, 2020 10.00 am

Venue: County Hall, Chichester

Contact: Adam Chisnall on 033 022 28314  Email:  adam.chisnall@westsussex.gov.uk

Items
Note No. Item

Part I

10.00 am

1.

Declarations of Interests

Members and officers are invited to make any declaration of personal or prejudicial interests that they may have in relation to items on the agenda and are reminded to make any declarations at any stage during the meeting if it becomes apparent that this may be required when a particular item or issue is considered.

 

It is recorded in the register of interests that:

·         Mr Donnelly is a Horsham District Councillor

·         Mr Elkins is a Member of the Littlehampton Harbour Board and Arun District Council

·         Mr Hunt is the Chairman of the Chichester Harbour Conservancy

·         Mr Jupp is a Member of Horsham District Council and has a daughter who works for Blackrock

·         Dr Walsh is a Member of the Littlehampton Harbour Board, Arun District Council and Littlehampton Town Council

 

These financial interests only need to be declared at the meeting if there is an agenda item to which they relate.

10.01 am

2.

Part I Minutes of the last meeting pdf icon PDF 178 KB

The Panel is asked to agree the Part I minutes of the meeting of the Panel held on 25 October 2019 attached (cream paper).

Additional documents:

10.02 am

3.

Urgent Matters

Items not on the agenda, which the Chairman of the meeting is of the opinion, should be considered as a matter of urgency by reason of special circumstances.

10.03 am

4.

Part II Matters

Members are asked to indicate at this stage if they wish the meeting to consider bringing into Part I any items on the Part II agenda.

10.04 am

5.

Motions Received from Employers pdf icon PDF 430 KB

The Panel to discuss motions that have been received from employers within the pension fund.

5a

4 September 2019 - Part I Pension Advisory Board Minutes pdf icon PDF 172 KB

5b

20 November 2019 - Pension Advisory Board Agenda pdf icon PDF 248 KB

10.10 am

6.

Business Plan pdf icon PDF 140 KB

Report by the Director of Finance and Support Services.

 

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

Additional documents:

10.20 am

7.

Pension Administration Performance pdf icon PDF 239 KB

Report by the Director of Finance and Support Services.

 

The Panel is asked to consider the recommendation within the report.

Additional documents:

10.40 am

8.

Actuarial Valuation pdf icon PDF 129 KB

Report by the Director of Finance and Support Services.

 

The Panel is asked to:

 

(1)     agree the current version of the Funding Strategy Statement for publication by 31 March 2020, unless amended.

 

(2)     agree that any further amendments to the Funding Strategy Statement can be agreed by the Director of Finance and Support Services, in consultation with the Chairman to allow the Statement to be published by 31 March 2020.

Additional documents:

10.09 am

9.

Pension Advisory Board Minutes - Part I

The Panel is asked to note the confirmed Part I minutes from the meeting of the Pension Advisory Board on 4 September 2019 and the agenda from the meeting of the Pension Advisory Board on 20 November 2019.

10.50 am

10.

Treasury Management Strategy DOTX 51 KB

Report by the Director of Finance and Support Services.

 

The Panel is asked to:

 

(1)     approve the 2020/21 Treasury Management Strategy as set out in Appendix 1.

 

(2)     note the treasury activity undertaken during 2019/20 (1 April to 31 December 2019).

Additional documents:

10.55 am

11.

Date of the next meeting

The next meeting of the Pensions Panel will be 10.00 a.m. 27 April 2020 at County Hall.

Part II

10.55 am

12.

Exclusion of Press and Public

The Board is asked to consider in respect of the following item(s) whether the public, including the press, should be excluded from the meeting on the grounds of exemption under Part I of Schedule 12A of the Local Government Act 1972, as indicated below, and because, in all the circumstances of the case, the public interest in maintaining the exemption of that information outweighs the public interest in disclosing the information.

10.55 am

13.

Part II Minutes of the last meeting

To confirm the Part II minutes of the meeting of the Panel held on 25 October 2019, for members of the Panel only (yellow paper).

10.55 am

14.

Pension Advisory Board Minutes - Part II

The Panel is asked to note the confirmed Part II minutes from the meeting of the Pension Advisory Board on 4 September 2019 (yellow paper).

10.55 am

15.

AVC Transfer

Report by the Director of Finance and Support Services attached for members of the Panel only (yellow paper).

 

The Panel is asked to consider the recommendations within the report.

11.05 am

16.

ACCESS

Report by the Director of Finance and Support Services attached for members of the Panel only (yellow paper).

 

The Panel is asked to consider the recommendations within the report.

11.15 am

17.

Review of Pension Investment Performance

The following reports are for the Panel to review Pension performance over the last quarter.

17a

Transaction and Performance

Paper by the Director of Finance and Support Services summarising transactions and performance during the quarter, for members of the Panel only (yellow paper).

17b

Independent Fund Advisor Comments

Paper from the independent fund advisor giving comments on the quarter, for members of the Panel only (yellow paper).

11.30 am

18.

Presentation by Baillie Gifford

The Panel to receive a presentation on portfolio performance.

12.15 pm

19.

Presentation by Aberdeen Standard

The Panel to receive a presentation on portfolio performance.

 

Lunch

2.00 pm

20.

Income Fund Options

Report by the Director of Finance and Support Services attached for members of the Panel only (yellow paper).

 

The Panel is asked to consider the recommendations within the report.