Agenda item

A report by the Executive Director for Finance and Public Protection had been circulated.

It was moved, seconded and

RESOLVED

That the Council as administering authority of the Lincolnshire Local Government Pension Fund:

1.    That the adoption of Border to Coast Pensions Partnership (BCPP) Pooling Arrangement as the Councils chosen approach to meet the requirement to pool assets in the LGPS be approved.

2.    That inclusion within the Lincolnshire LGPS Investment Strategy Statement of the BCPP Pooling Arrangement as the Council's approach to pooling investments in accordance with the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016 and the Guidance on Preparing and Maintaining an Investment Strategy Statement be approved.

3.    That the subscription by the Council as administering authority for 1 class A voting share in Border to Coast Pensions Partnership Limited be approved.

4.    That the Executive Director for Finance and Public Protection be appointed to exercise the Council’s rights as a shareholder in Border to Coast Pensions Partnership Limited on behalf of the Council as the administering authority of the Lincolnshire Local Government Pension Fund.

5.    That the subscription by the Council as administering authority for such number of class B non-voting shares in the Border to Coast Pensions Partnership Limited as shall be necessary to ensure that the Lincolnshire LGPS contributes by way of equity one twelfth of the minimum regulatory capital requirement of the company as determined in accordance with the requirements of the company's regulators be approved.

6.    That the entering into of a Shareholder Agreement between the Council and the Administering Authorities of the other Pool Funds and the company generally in the form attached at Appendix E of the report and described within the Report be approved.

7.    That the entering into of an Inter-Authority Agreement between the Council and the Administering Authorities of the Partner  Funds generally in the form attached at Appendix C of the report and described within the Report be approved.

8.    That the establishment as a formal Joint Committee under section 102 of the Local Government Act 1972 of the Border to Coast Pensions Partnership Joint Committee in accordance with and to carry out the functions set out in the Inter-Authority Agreement be approved.

9.    That the Chairman (or Vice Chairman in their absence) of the Pension Committee be appointed to represent the Council on behalf of Lincolnshire Local Government Pension Scheme on the Border to Coast Pensions Partnership Joint Committee.

10. That the changes to the Constitution set out in Appendix D of the report to enable Lincolnshire to be a partner on the Border to Coast Pensions Partnership Joint Committee and undertake all Fund activities in regards to being an investor in Border to Coast Pensions Partnership Limited in its capacity as an Asset Management Company be approved.

11. That the Executive Director for Finance and Public Protection in consultation with the Chairman of the Pensions Committee be authorised to finalise the approval and execution, where required, of all legal documents necessary to give effect to the above decisions including the Articles of Association of Border to Coast Pensions Partnership Limited, the Shareholder Agreement and the Inter-Authority Agreement.