Agenda

Pensions Committee - Wednesday, 21st July, 2021 10.30 am

Venue: County Hall, Chichester, PO19 1RQ

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

Media

Items
Note No. Item

Part I

Additional documents:

10.30 am

1.

Membership

The West Sussex County Council members of the Pensions Committee were confirmed at the County Council meeting held on 21 May 2021 as follows:

Cllr Hunt (Chairman)

Cllr Baxter

Cllr Condie

Cllr J Dennis

Cllr Elkins

Cllr N Jupp

Cllr Urquhart

There are also 3 representative members on the Committee as set out below

Mr Donnelly - District representative

Mr Kipling - Scheduled Bodies representative

Ms Taylor – Member representative

Additional documents:

10.32 am

2.

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

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

Additional documents:

10.33 am

3.

Part I Minutes of the last meeting pdf icon PDF 119 KB

The Committee is asked to agree the Part I minutes of the meeting of the Committee held on 17 March 2021 attached (cream paper).

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10.34 am

4.

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.

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10.34 am

5.

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.

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10.35 am

6.

Pensions Committee Terms of Reference pdf icon PDF 111 KB

The Committee is asked to note its terms of reference.

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10.40 am

7.

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 2021 and the agenda from the meeting of the Pension Advisory Board on 28 April 2021.

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7a

26 February 2021 - Part I Pension Advisory Board Minutes pdf icon PDF 140 KB

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7b

28 April 2021 - Pension Advisory Board Agenda pdf icon PDF 248 KB

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10.45 am

8.

Pension Fund Annual Report pdf icon PDF 108 KB

Report by the Director of Finance and Support Services.

The Committee is asked to comment on and approve the draft annual report.

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11.10 am

9.

Business Plan pdf icon PDF 258 KB

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.

Additional documents:

11.25 am

10.

Pension Administration Performance pdf icon PDF 230 KB

Report by the Director of Finance and Support Services.

The Committee is asked to note the update with particular attention to the work associated with end of year returns and the publication of Annual Benefit Statements to members.  The Committee is also asked to note the approach agreed by the Director of Finance and Support Services in relation to receipt of a Voluntary Scheme Pays election.

Additional documents:

11.40 am

11.

Date of the next meeting

The next meeting of the Pensions Committee will be 10.00 a.m. 25 October 2021 at County Hall.

Additional documents:

Part II

Additional documents:

11.41 am

12.

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.

Additional documents:

11.42 am

13.

Part II Minutes of the last meeting

To confirm the Part II minutes of the meeting of the Committee held on 17 March 2021, for members of the Committee only (yellow paper).

11.43 am

14.

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 2021 (yellow paper).

11.45 am

15.

Investment Strategy Implementation

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.

12.00 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 report.

12.15 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).

Break for the Committee

Additional documents:

1.00 pm

18.

Presentation by Fund Manager

The Committee to receive a presentation on portfolio performance.

1.45 pm

19.

Presentation by Fund Manager

The Committee to receive a presentation on portfolio performance.