Members are reminded to consider the categories of interest, identified in the Code of Conduct for Members to determine: whether they have an interest in any agenda item and any action they should take. For further details, see the attached note from the Monitoring Officer.

Members are also reminded to declare the nature of the interest at the earliest opportunity and the agenda item it relates to. Please note that ultimately it is the Members’ responsibility to identify any interests and also update their register of interest form as required by the Code.

If in doubt as to the nature of an interest, you are advised to seek advice prior the meeting by contacting the Monitoring Officer or Democratic Services.

There were no pecuniary declarations of interest declared at the meeting by members.

To confirm as a correct record the minutes of the meeting of the Committee held on 3^rd October 2022.

The unrestricted minutes from the meeting of 3^rd October 2022 were agreed to be an accurate record of the meeting and were approved by the Committee.

In view of the contents of the remaining items on the agenda the Committee is recommended to adopt the following motion: “That, under the provisions of Section 100A of the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985, the press and public be excluded from the remainder of the meeting for the consideration of the Section Two business on the grounds that it contains information defined as Exempt in Part 1 of Schedule 12A to the Local Government Act,1972.”

EXEMPT SECTION (Pink Papers)

The exempt committee papers in the agenda will contain information, which is commercially, legally or personally sensitive and should not be divulged to third parties. If you do not wish to retain these papers after the meeting, please post them to the Democratic Service Office, 1st Floor, Mulberry Place London E14 2BG or hold onto the papers until such time you can return to the Town Hall and dispose of the papers in the confidential bins.

The Chair MOVED and it was

RESOLVED

“That under the provisions of Section 100A of the Local Government Act 1972, as amended by the Local Government (Access to information) Act 1985, the press and public be excluded from the remainder of the meeting for the consideration of Section Two business on the grounds that it contains information defined as Exempt in Part 1 of Schedule 12A to the Local Government Act, 1972.”

To confirm as a correct record of the proceedings the restricted minutes of the meeting of the Pensions Committee held on the 3^rd October 2022.

The restricted minutes from the meeting of 3^rd October 2022 were agreed to be an accurate record of the meeting and were approved by the Committee.

Ms Miriam Adams, Interim Head of Pensions and Treasury introduced the training session and said the Committee had been provided with training and background information regarding the role of the Actuary at a previous meeting. She said the Actuary, under the Pension legislation and regulation were required to complete a triannual valuation, which was due for completion by 31^st March 2023. She said that as part of the triannual valuation, the Fund was expected to produce its Funding Strategy Statement (FSS).

The Chair thanked Ms Adams and Mr Dodds for their presentation.

To follow.

Ms Miriam Adams, Interim Head of Pensions and Treasury stated the draft Funding Strategy Statement and appendices were attached to the report and were being consulted on.

She said the final outcome of the consultation would be presented to the Committee at its March 2023 meeting.

The Pensions Committee RESOLVED to:

1. Approve the draft Funding Strategy Statement and draft policies.
2. Agree a draft Funding Strategy Statement is to be sent out for consultations with scheme employers.

There was no other business to be discussed.