Agenda and minutes
Venue: Council Chamber, County Offices, Newland, Lincoln LN1 1YL. View directions
Contact: Robert Close Democratic Services Officer
Media
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Apologies for Absence Minutes: No apologies for absence were reported. |
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Declarations of Interest Minutes: Mr Gerry Tawton and Councillor M Whittington declared that their wives were deferred members of the Pension Fund.
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Minutes of the previous meeting held on 14 October 2021 PDF 422 KB Minutes: During consideration of the minutes from the previous meeting held 14 October 2021, the following updates was received.
RESOLVED That the minutes of the meeting held on 14 October 2021 be approved as a correct record. |
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Pension Fund Update Report PDF 840 KB (To receive a report by Jo Ray (Head of Pensions) which updates the Board on the fund for the quarter ending 30 September 2021 and any other current issues) Additional documents:
Minutes: A report was submitted to the Board on various Pension Fund matters for the quarter ending 30 September 2021. These matters included: The Pensions Regulator (TPR) checklist dashboard and code of practice, breaches register update, risk register update, asset pooling update and a budget and business plan update. In response to questions, the following comments were made:
RESOLVED That the Pension Fund update report be noted. |
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Responsible Investment Update PDF 461 KB (To receive a presentation by Claire Machej (Accounting, Investment and Governance Manager) which provides the Board with an update on responsible investment activity during the second quarter of the financial year 2020/21) Additional documents:
Minutes: A report was submitted to the Board which gave an update on Responsible Investment (RI) activity during the second quarter of the financial year 2021/22.These matters included an update on the work undertaken by the Local Authority Pension Fund Forum (LAPFF), border to coast pensions partnership activity, Robeco activity and voting activity. In response to questions, the following comments were made:
RESOLVED That the report be noted. |
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Pensions Administration Report PDF 514 KB (To receive a report by Yunus Gajra (Assistant Director for Finance, Administration and Governance, West Yorkshire Pension Fund) which offers the Board the quarterly report of the Fund's administrator, West Yorkshire Pension Fund) Additional documents:
Minutes: The Assistant Director for Finance, Administration and Governance (WYPF) reported on the Fund's key performance and benchmarking for the period 1 July 2021 to 30 September 2021. These matters included performance and benchmarking, scheme information, member and employer contact, internal disputes resolution procedures, administration update, current technical issues, web registrations, shared service budget and award nominations. In response to questions, the following comments were made:
RESOLVED That the report be noted. |
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West Yorkshire Pension Fund Presentation - Working with Employers PDF 398 KB (To receive a presentation by Ammie McHugh (Employer Relations Manager, West Yorkshire Pension Fund) which updates the Board on employer relations matters) Additional documents: Minutes: The Board received a presentation by the Employer Relations Manager (WYPF), including detail of the employer relations team and activity, employer training, scheme leavers, pre-retirement courses and employer engagement forum. In response to questions, the following comments were made:
RESOLVED That the report be noted. |
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Data Quality Report PDF 395 KB (To receive a report by Yunus Gajra (Assistant Director for Finance, Administration and Governance, West Yorkshire Pension Fund) which updates the Board on the data quality scores for the Lincolnshire Pension Fund which is reported to The Pensions Regulator each year in November) Additional documents: Minutes: A report by the Assistant Director for Finance, Administration and Governance (WYPF) updated the Board on data issues and a data improvement plan. In response to questions, the following comments were made:
RESOLVED That the report be noted. |
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Employer Monthly Submissions Update PDF 524 KB (To receive a report by Claire Machej (Accounting, Investment and Governance Manager) which provides the Board with up-to-date information on Employer Monthly Submissions for the second quarter of the financial year 2021/22, July to September inclusive) Additional documents: Minutes: This paper provided the Board with up-to-date information on Employer Monthly Submissions for the second quarter of the financial year 2021/22 (July to September inclusive). RESOLVED That the report on the employer monthly submissions for the second quarter of the financial year 2020/21 be noted. |
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Annual Report and Accounts 2020/21: The External Auditors Audit Completion Report PDF 389 KB (To receive a presentation by Claire Machej (Accounting, Investment and Governance Manager) which provides the Board with the Audit Completion Report from Mazars, the Funds External Auditor, on the 2020/21 audit of the financial statements) Additional documents:
Minutes: Consideration was given to a report to the Board on the 2020/21 financial statements Audit Completion Report from Mazars, the Funds External Auditor. In response to questions, the following comments were made:
That the report be noted
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(To receive a report by Claire Machej (Accounting, Investment and Governance Manager) which provides Board Members the opportunity to discuss any training attended since the last Board meeting and provide feedback to other Board Members on its content) Additional documents: Minutes: The Board considered the standard report on its training needs.
Members of the Board reported attendance at a one-hour webinar session with Hymans Robertson covering administrative changes and challenges, the pension fundamentals day two event, Room 151 events, and XPS Pension Group session on transfers out. The Head of Pensions offered to circulate the link to Room 151 to all Board Members for their information.
RESOLVED
That the report on the Board's training needs be noted.
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(To receive a report by Claire Machej (Accounting, Investment and Governance Manager) which invites the Board to consider its work programme for the coming meetings) Additional documents: Minutes: A report on the Board's work programme was submitted, which presented the items for consideration at future meetings.
Members of the Board requested the following items to be built into the Board’s Work Programme:
· A report on how the McCloud pension judgement was being implemented by West Yorkshire Pension Fund, including numbers of affected scheme members in Lincolnshire.
· A presentation from the External Auditor on their work, its timing, and their reporting processes.
· An exploration into the effectiveness of the LGPS Pensions Board. The Head of Pensions suggested that this would form part of the wider governance review.
RESOLVED
That the report on the work programme be approved.
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