Issue - meetings
SUBMISSIONS FROM PENSION BOARD
Meeting: 28/11/2019 - Pensions Committee (Item 4)
SUBMISSIONS / REFERRALS FROM PENSION BOARD
To be received at the meeting
Minutes:
A report was tabled from John Jones Chair of the Pensions Board. The note highlighted the key issues that had been considered by the Board at its meeting on 25 November 2019.
RESOLVED:
1. To note the Chair of Pensions Board report.
Meeting: 24/09/2019 - Pensions Committee (Item 4)
4 SUBMISSIONS / REFERRALS FROM PENSION BOARD PDF 58 KB
To be received at the meeting
Minutes:
The Committee received and noted a report from the Pensions Board Chair John Jones that highlighted the key issues that had been considered by the Board at its meeting on 19th September, 2019:
The Committee noted that the Board:
· Had received two presentations at the meeting as part of the Board’s programme of training and development. The first from bfinance on the current market opportunities and challenges in investing in infrastructure, and the second from Quinbrook Partners on their approach to investing in renewable energy;
· Had asked a range of questions to both these presenters and concluded that infrastructure is an asset class that the Pension Fund should be incorporated into its asset allocation and explore the investment opportunities available.
· Considered the latest performance data for the Fund and noted the strong returns from Global equities over the past year and the disappointing returns from Absolute Bonds from inception;
· Had also found the summary document produced by Mercer to be very user friendly and easy to access;
· Had received (i) details on the latest Local Authority Pension Fund Forum (LAPFF) voting and engagement update; (ii) an update on developments with the Local Government Pension Scheme (LGPS) cost cap; (iii) information on the McCloud judgement and the Actuarial Review;
· Had reviewed the latest Risk Register and recommend that the document is improved by introducing a RAG traffic light system to highlight areas of concern; and
· Although pleased to see that a more comprehensive and complete report had been developed on pensions administration performance and the key issues affecting the service. It was important that progress is monitored closely and reported to both the Board and Committee, and that sufficient resources are made available to achieve this.