Agenda item

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.