Minutes:
Nick Orton provided feedback from the Local Pension Board, which included recommendations to the Pension Fund Committee to assist in its effective and efficient governance and administration of the Scheme.
The Board recommended that the Committee consider amending the timing of meetings to allow sufficient time for questioning of the attending Fund Managers. Members discussed the proposal and acknowledged the importance of challenging the Fund Managers, however agreed, following a suggestion by the Vice-Chairman that at present there should be no change to the timing of the Committee and arrangements for the presentations by Fund Managers. As there were a number of new Members, and as reporting practices would change with the implementation of pooling, it was felt that it would be premature to consider changing existing arrangements. However Members agreed to review this when Fund Manager reporting changed as a result of pooling.
The Board also recommended that in view of the technical nature of the work of the Committee all new Members should receive appropriate training, and that refresher training should be offered to existing Members. It was noted that training sessions had been provided as part of member induction following the elections, and there was a further opportunity for Members to attend a BCPP training event on 11 and 12 September 2017. Details would be circulated to Members in due course.
Resolved:
That the recommendations of the Local Pension Board be received and actioned, as outlined above.