Agenda

Pensions Committee - Friday, 23rd October, 2020 10.00 am

Venue: Virtual meeting with restricted public access

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

Media

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

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

·       Cllr Hunt is the Chairman of the Chichester Harbour Conservancy

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

·       Cllr Walsh is a Member of 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 164 KB

The Committee is asked to agree the Part I minutes of the meeting of the Committee held on 22 July 2020 attached (cream paper).

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.

Pension Advisory Board Minutes - Part I

The Committee is asked to note the confirmed Part I minutes from the meeting of the Pension Advisory Board on 26 February 2020 and the agenda from the meeting of the Pension Advisory Board on 7 September 2020.

5a

26 February 2020 - Part I Pension Advisory Board Minutes pdf icon PDF 172 KB

5b

7 September 2020 - Pension Advisory Board Agenda pdf icon PDF 249 KB

10.05 am

6.

Business Plan pdf icon PDF 286 KB

Report by the Director of Finance and Support Services.

 

The Committee is asked to note the update on the Business Plan and note the risk matrix for the Fund.

10.20 am

7.

Administration Performance pdf icon PDF 242 KB

Report by the Director of Finance and Support Services.

 

The Committee is asked to note the update.

Additional documents:

10.35 am

8.

Scheme Changes pdf icon PDF 178 KB

Report by the Director of Finance and Support Services.

 

The Committee is asked to note the update, including the impact on the pensions administration team and the actuary.  The Committee is also asked to agree the amendments to the funding strategy statement as a result of employer flexibilities.

Additional documents:

10.55 am

9.

Date of the next meeting

The next meeting of the Pensions Committee will be at 11.00 a.m. on 17 November 2020.

Part II

10.55 am

10.

Exclusion of Press and Public

The Committee 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.

11.05 am

11.

Part II Minutes of the last meeting

To confirm the Part II minutes of the meeting of the Committee held on 22 July 2020, for members of the Committee only (yellow paper).

11.07 am

12.

Pension Advisory Board Minutes - Part II

The Committee is asked to note the confirmed Part II minutes from the meeting of the Pension Advisory Board on 26 February 2020 (yellow paper).

11.10 am

13.

AVCs

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

 

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

11.20 am

14.

Investment Strategy Statement

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

 

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

11.40 am

15.

Private Debt and Infrastructure

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

 

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

12.20 pm

16.

ACCESS

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

 

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

Break

1.00 pm

17.

Review of Pension Investment Performance

Paper by the Director of Finance and Support Services and Independent Fund Adviser summarising transactions and performance during the quarter and giving comments on the quarter, for members of the Committee only (yellow paper).

1.15 pm

18.

Presentation by Baillie Gifford

The Committee to receive a presentation on portfolio performance.