Chair's Announcements
Minutes:
The Chair reported the following:
· Scheme Advisory Board [SAB] – the SAB’s summary minutes will be circulated on a regular basis. He advised that the SAB Chair was keen to have a two-way dialogue with the Pension Boards.
· SAB survey – the survey was due soon and would be completed by the Administering Authority and the Board.
· Membership of Pension Boards – it was considered that having only two employer and two employee representatives on Pension Boards, could make Boards vulnerable to meetings being inquorate. Membership numbers may need to be reviewed.
· CIPFA has produced a guide for administration of Local Government Pension Schemes [LGPS] and also a revised guide for producing Pension Fund Annual report. The Guides would be circulated to the Board and Committee and the Pension Fund Manager would arrange training.
· The SAB is recommending that Pension Boards should review financial statements before publication. There was a danger that the Board could become too technical. The Chair asked that the Pension Fund Manager consider the timing of the Boards involvement and whether the review could be completed via email instead of by an ad hoc meeting.
· Response to the Ministry for Housing, Communities and Local Government [MHCLG] – Board Chairs had been asked for their responses to the MHCLG draft guidance on asset pooling. The Chair’s response took into account the successful outcomes from the recent meeting with the host authority.
· The Chair advised that as a result of the Pension Board Chairs, the Host Authority and senior officers meeting it was suggested that the Pool, Host Authority and Board Chairs meet once every six months. He felt there was a positive approach to moving forward.
Chair's Announcements