Agenda and draft minutes

Local Pension Board - Tuesday, 15th November, 2022 4.00 pm

Venue: Virtual via TEAMS

Contact: Christine Elsasser 01708 433675  Email: christne.elsasser@onesource.co.uk

Items
No. Item

126.

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 Chairman advised members of actions to take if they are disconnected from the video call.

 

127.

APOLOGIES FOR ABSENCE

(if any) – receive.

Minutes:

Apologies for inability to attend the meeting where received from Denise Broom and Andrew Frater.

128.

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.

129.

MINUTES OF THE MEETING 6 SEPTEMBER 2022 pdf icon PDF 321 KB

To approve as correct the minutes of the meeting held on 6 September 2022 (attached) and authorise the Chair to sign them.

 

Minutes:

The minutes of the meeting of 6 September contained errors and the following needed to be corrected before they could be accepted as a true and accurate record:

-        Borough was spelled incorrectly

-       There were notes in the wrong sections

 

Once these changes were enacted the minutes were to be accepted as a true and accurate record.

130.

PENSIONS COMMITTEE MINUTES 22 SEPTEMBER 2022 pdf icon PDF 268 KB

Minutes attached.

Minutes:

The Pensions Committee minutes of 22 September 2022 were noted.

131.

LLP QUARTERLY PERFORMANCE REPORT UPDATE pdf icon PDF 3 MB

Report attached.

Minutes:

It was reported that the annual benefit statement was sent out 1st August 2022.

 

Refunds were low but there was a 60% increase in caseloads.

 

Retirement satisfaction scores were shown on Page 30 along with data quality common and conditional data.  Action Point – LLP to explain what the errors are on that.

 

132.

LOCAL PENSIONS BOARD RISK REGISTER pdf icon PDF 896 KB

Risk register attached.

Minutes:

The Risk register did not go to the Pension’s Committee however it would be at next Committee meeting in December.

 

 

133.

PENSIONS ADMINISTRATION STRATEGY

Minutes:

It was explained that the administration system was doing what it should be. A few things were in progress on the data improvement plan.

 

The Performance report was done based on all data and now the new system would need to be examined to make sure that the data scores had dropped.

 

All employers were receiving their log-in details and Communication was being sent to members. The link was on the website and everyone would know about the new system change by the week commencing 5th December 2022. If nothing arrived by then Members were to  let Caroline know.

 

134.

LPPA ANNUAL INTERNAL CONTROL ASSURANCE pdf icon PDF 1 MB

Report attached.

Minutes:

The report was from the LLP and it was requested that the Committee should look if there were any points that needed clarification and Janet could clarify further.

Action Point – Look and feedback questions.  Janet to come in and talk through, members prepare questions beforehand. Then this would be taken to internal auditor and come back to the committee.

 

135.

PENSION FUND ANNUAL REPORT pdf icon PDF 4 MB

Report and checklist attached.

Additional documents:

Minutes:

It was explained that the Guidance on Good Practice did not go through the LPB before publication because the meeting in early November was deferred and the timings were not conducive to reviewing; however, the information and the chance to review was still currently possible because the publication was unaudited and therefore if errors were found there was still an opportunity to do so.

Action point – Members were to come back to Debbie if errors were found or to submit any further feedback.

136.

COP14 COMPLIANCE CHECKLIST pdf icon PDF 123 KB

Report attached.

Minutes:

The item was noted by Members.

137.

POSITION OF CHAIR

Minutes:

 

No one applied. Action Point: Caroline would go back to individuals who had been interested for feedback.

 

 

138.

AOB

Minutes:

Debbie would send out employer contribution rate.

 

Action Point: Agendas would contain what must be read and what was just for information on large agendas to make it easier for Members to prepare for meetings.