Agenda and minutes

AGM, Local Pension Board
Monday, 18th June, 2018 4.00 pm

Venue: Town Hall, Main Road, Romford

Contact: Victoria Freeman (01708) 433862  Email: Victoria.Freeman@onesource.co.uk 01708 433862

Items
No. Item

41.

CHAIR'S ANNOUNCEMENTS

The Chair will announce details of the arrangements in case of fire or other events that might require the meeting room or building’s evacuation.

 

Minutes:

The Chair reminded Members of the action to be taken in an emergency.

42.

APOLOGIES FOR ABSENCE

(if any) – receive.

Minutes:

There were no apologies for absence received.

43.

DISCLOSURE OF INTEREST

Members are invited to disclose any interest in any items on the agenda at this point of the meeting.

 

Members may still disclose any interest in an item at any time prior to the consideration of the matter.

 

Minutes:

There were no disclosures of interest.

44.

MINUTES OF THE MEETING pdf icon PDF 145 KB

The minutes of the meeting held on 24 April 2018 are attached for information purposes only.

 

Minutes:

The minutes of the meeting held on 24 April 2018 were noted.

45.

ELECTION OF CHAIRMAN

The Board’s Terms of Reference state:

 

‘5)        Appointment of Chair

 

5.1       A Chair is to be appointed by the employer and scheme member representatives of the Board from amongst their own number on a rotating basis with the term of office shared between an employer and a scheme member representative on an equal basis.

 

5.2       The Chair of the Board:

 

(a)       Shall ensure the Board delivers its purpose as set out in these Terms of Reference,

(b)       Shall ensure that meetings are productive and effective and that opportunity is provided for the views of all members to be expressed and considered, and

(c)        Shall seek to reach consensus and ensure that decisions are properly put to a vote when it cannot be reached.  Instances of a failure to reach a consensus position will be recorded and published.’

Minutes:

The Board were advised that in accordance with the Terms of Reference a Chair was to be appointed by the employer and scheme members from amongst their own number, on a rotating basis with the term of office being shared between an employer and a scheme member representative on an equal basis.

 

After discussion it was felt that as the previous Employer Representative Chair had served a term of two years, that the current Chair should serve an equal term. Therefore it was agreed that Mark Holder be reappointed as Chair for a further year.

46.

ANNUAL REPORT FOR 2017/18 pdf icon PDF 271 KB

The Board are asked to comment upon and to agree the Annual Report for 2017/18.

Additional documents:

Minutes:

The Chair introduced the draft Local Pension Board Annual Report for 2017-18.  The Chair proposed that the amendments to the report, as per the tracked changed document (Appendix A), be accepted.  The members agreed the changes as proposed and agreed that the final report (Appendix B) be presented to the Pensions Committee. 

47.

REVIEW OF THE LOCAL PENSION BOARD TERMS OF REFERENCE pdf icon PDF 496 KB

Minutes:

Members gave consideration to increasing the membership of the Board.  It was noted that Newham, Bexley, Southwark and Redbridge Local Pension Boards allow for 4 voting members.  The terms of reference for The London Borough of Islington and the City of London allow for higher membership, however their net assets were considerably higher than Havering.  Members agreed that no changes be made to the membership of the Board.

 

Members discussed Paragraph 3.5 in the Terms of Reference and the fixed term of 4 years and the knowledge built up by the board during this time. The Chair informed the group that he had discussed this with the scheme manager and members were entitled to renominate themselves at the end of the 4 year period by submitting a written request to the scheme manager.

 

Members briefly discussed the term of office served by the Chair and Paragraph 5.1 in the Terms of Reference. They agreed that as the Employer representative had previously served a term of two years then future Chairs would also serve for a two year term.

 

 

 

 

 

 

 

48.

REVIEW OF WORK PLAN

Minutes:

Members discussed the areas on the work plan for 2017/18 and it was noted that the board had finalised its review of fair deal and TUPE and had reported on how the current changes would impact on the Pension Scheme.

 

The Board were currently investigating processes to ensure that process were in place to make any items that had been identified as non-compliant or partially complaint from the pension regulator and scheme advisory board compliance checklist were made fully compliant within agreed and acceptable timescales; and were in the process of ensuring that the pension regulator and scheme advisory board were compliance checklist had been completed and reviewed regularly.

 

Officers had been requested to ask Internal Audit to carry out an audit check to evidence that the board were meeting the pension regulators requirements in any areas that required further assurance.

 

Members had review the key performance indicators relating to the administration of the scheme and had expressed disappointment with the reports provided, and had subsequently requested that LPP attend the next meeting of the Board.  If members continued to be dissatisfied with the information presented, their concerns would be escalated to the Pensions Committee.