Agenda item

Report by Director of Finance, Performance and Procurement.

The Board is asked to note the register of policy documents and provide feedback on the policies presented at the meeting.

90.1   The Board received a report by the Director of Finance, Performance and Procurement (copy appended to the signed minutes).

90.2   Rachel Wood introduced the report and explained that the Treasury Management Policy went to the January Pensions Panel.  The Administration Strategy had recently been updated following the transfer to Hampshire County Council.

90.3   The Board queried why some of the review dates in Appendix A were in the past.  – Tara Atkins reported that some reviews had been impacted by the transfer of administration and would be considered as part of the transfer project.  Rachel Wood confirmed that the Annual Report date was an error and should be July 2019.

90.4   The Board made comments including those that follow on the Treasury Management policy.

•      Queried if there had been any changes to the Treasury Management policy.  – Rachel Wood confirmed there had been no changes.  The County Council had a discipline to give an annual approval to the policy.

•      Commented on the CIPFA requirement for section 151 officer to check compliance.  It was important for the Board to be aware of the policy, and for the Pensions Panel to approve it.

90.5   Tara Atkins introduced the Administration Strategy and explained how the strategy had undergone a review to reflect the new SLA expectations from Hampshire County Council.  The strategy also covered the change in processes for Employers.  Employees were not impacted as much, but there were changes in processes for leavers.

90.6   The Board made comments including those that follow on the Administration Strategy.

•      Queried when Hampshire County Council would attend a Board meeting.  – Rachel Wood confirmed that Hampshire were due to attend the next meeting.

•      Commented that Hampshire County Council had been meeting with Employers and had been very supportive during the transfer arrangements.

•      Asked how many estimates could be requested.  – Tara Atkins reported that members could request one estimate a year, anything beyond this would be chargeable.  Annual Benefit Statements are and Pension Modeller tools would be available on the portal.  Rachel Wood added that Employers could request two estimates per employee per year without additional charges.

•      Commented that Additional Pension Contribution information was not provided on the Annual Benefit Statements.  – Rachel Wood explained that Capita had limitations on how data could be stored.  Hampshire County Council were expected to have fewer limitations and so this information should be available.  

•      Queried why new employees were not receiving scheme welcome information.  – Tara Atkins reported that this was the responsibility of employers to signpost.  It was recommended to include website link information or a covering letter with the initial employment contract.  This could be picked up with the transfer communications.

90.7   The Board discussed which policies should be discussed at the next Board meeting and chose the Funding Strategy Statement and the Communications Strategy.  The Board also agreed to look at the Annual Report at the September meeting.

90.8   Resolved – That the Board notes the register of policy documents and the contents of the Treasury Management policy and the Administration Strategy.  The Board requests that the Funding Strategy Statement and the Communications Strategy come to the next meeting for consideration.