Issue - meetings
Local Pension Board General Remit and LBTH Pensions Board Work Plan For 2019/20
Meeting: 25/11/2019 - Pension Board (Item 10)
10 Local Pension Board Updated LBTH Pensions Board Work Plan For 2019/20 PDF 267 KB
Additional documents:
- Appendix1 LBTH Pension Board Terms of Reference, item 10 PDF 84 KB
- Appendix2 PB work plan 201920 Nov2019 meeting, item 10 PDF 336 KB
- Webcast for Local Pension Board Updated LBTH Pensions Board Work Plan For 2019/20
Minutes:
Board Members were asked to note the Pension Board’s updated work plan for 2019/20.
The Chair, Mr John Jones reiterated the Board’s desire to receive a report on the corporate risk register and an update concerning the Pensions Administration report.
The Board expressed their wish to invite Mr Paul Rock, Head of Internal Audit, Fraud and Risk to a future meeting of the Board to examine how Internal Audit reports on Fund activity.
The Board RESOLVED to:
1. Note the contents of the report;
2. Note the pension board terms of reference attached at appendix 1; and
3. Agree the updated work plan attached as Appendix 2 to the report.
Meeting: 19/09/2019 - Pension Board (Item 5)
5 LOCAL PENSION BOARD UPDATED LBTH PENSIONS BOARD WORK PLAN FOR 2019/20 PDF 266 KB
Additional documents:
- Agenda Item Appendix 1 LBTH Pension Board Terms of Reference, item 5 PDF 84 KB
- Agenda Item Appendix 2 PB workplan, item 5 PDF 340 KB
- Webcast for LOCAL PENSION BOARD UPDATED LBTH PENSIONS BOARD WORK PLAN FOR 2019/20
Minutes:
The Board received a report that outlined key decision making for, and management of, the Fund that has been delegated by the London Borough of Tower Hamlets (the Council) to a formal Pension Fund Committee, supported by officers of the Council and advisers to the Pension Fund. The Corporate Director, Resources is the Section 151 Officer and therefore has a statutory responsibility for the proper financial affairs of the Council including Fund matters.
It was noted that:
· The Pension Board has been in place since April 2015 to assist in (i) securing compliance of Fund matters; and (ii) ensuring the efficient and effective governance and administration of the Fund; · The work of the Board in assisting the Scheme Manager is broad and extensive, therefore understanding what the remit for the Board is undoubtedly complex; · The report outlined the amendments to the LBTH Pensions Board work plan as approved in March 2019.
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Accordingly, the Pension Board RESOLVED to a) note the contents of this report; b) note the pension board terms of reference attached as Appendix 1; and c) agree the updated work plan attached as Appendix 2 to this report.
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Meeting: 07/03/2019 - Pension Board (Item 9)
9 Local Pension Board General Remit and LBTH Pensions Board Work Plan For 2019/20 PDF 111 KB
Additional documents:
- Appendix 1 – LBTH Pension Board Terms of Reference, item 9 PDF 84 KB
- Appendix 2 - PB Work Plan 2019-20, item 9 PDF 48 KB
Minutes:
The Board received the report of Bola Tobun, Investment and Treasury Manager, on the draft work plan for the Pension Board 2019/20.
The Board then asked a number of questions about the report and the points raised are summarised below:
The Board:
· Noted that the report outlined the general remit of a local Pension Board; the indicative Work Plan for 2019/20 for Tower Hamlets Pensions Board and the Role and Responsibilities of the Pension Board are;
· Was advised that their purpose was to monitor internal and external audit reports, monitor performance of administration.
· Was reminded that whilst it has been undertaking external audit reports it has not yet undertaken any monitoring internal audit reports
· Was informed that the last internal audit report had presented to them in 2016 and since then. However, the internal audit reports are now being circulated and should be available to the Board for the year 2017/2018;
· Suggested that a spreadsheet of complaints should be presented to the them and it was suggested for the Pensions Team to add this as an additional element to their report. As complaints are received through the council’s iCasework and the data is extractable from that system.
· On the nature of complaints are diverse, most pertain to the lack of response in a timely manner. Many people also go directly to the complaints process having had never actually contacted the council to raise the issues and allowing an opportunity to rectify.
· Noted the review of the Terms and Conditions that Tower Hamlets is currently undertaking will not have an impact on the work plan as it does not impact the Pensions Fund. The changes will not affect people’s entitlement which is a statutory requirement nor will it affect the funding levels of the fund as contributions will remain the same. The only way it would impact the fund is if there was a rapid contraction in the work force. If there was such an impact, then the impact of such changes would be looked at by both the Board and the Pensions Committee.
· Was informed that it the work plan is an ongoing process and Board Members have been contributing on a regular basis towards the Plan.
· Considered the question of switching to a digital platform rather than posting out paper statements and noted that IT is being brought back in house from Agilisys and the Council is currently renegotiating the contracts to implement the building of a self-service portal and it is hoped to have this finalised by end of the month. Although there is no deadline as such for when the Council will become paperless the initial target is to be 80% paperless by the end of the year.
It was also suggested that the Board:
- Needs to see the risk register twice a year as once a year is not sufficient. It was noted that the register is scheduled to be seen in June and suggested that it would wished to see it again in November.
- Needs ... view the full minutes text for item 9