Meeting documents
Venue: Mezz 2, NCO Aylesbury
Contact: Anne-Marie Kenward
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Apologies/Declarations of Interest/Minutes Minutes: Apologies were received from, Ms B Black, Mr S Lugg and Mr J Chilver.
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Minutes of the Pension Fund Board PDF 173 KB To review the minutes of the Pension Fund Board held on 10 October 2018. Minutes: Ms A Kenward, Committee Assistant, noted several grammatical changes to be made to the minutes of the meeting held on 10 October 2018.
Regarding comments on page 5 of the agenda pack Mrs C Lewis-Smith, Principal Pensions Officer, confirmed that only one employer had requested employee take up data recently.
RESOLVED: The minutes of the meeting held on 10 October 2018 were AGREED subject to the above amendments.
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Minutes of Pension Fund Committee PDF 144 KB To review the Pension Fund Committee minutes for 26 November 2018. Minutes: RESOLVED: The minutes from the Pension Fund Committee meeting 26 November 2018 were NOTED by the Board.
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BCC Pension Fund Employee Newsletter - December 2018 PDF 128 KB Minutes: Ms C Platts, Pensions Communications Officer, invited comments on the December 2018 newsletter. Ms Platts then gave an overview of the contents of the March 2019 newsletter, a draft copy of which was circulated with the agenda.
Ms Platts highlighted the following:
McCloud and Sargent legal challenges Following a question from a member of the Board Mrs C Lewis-Smith, Principal Pensions Officer, confirmed the Fund had received communication from the Local Government Association asking whether or not central guidance for the 2019 valuation would be preferred. To date, most Funds had opted for central guidance to ensure consistency of approach.
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Scheme Member and Employer Communications PDF 156 KB Minutes: Ms C Platts, Pensions Communications Officer, gave an overview of the report circulated with the agenda.
Ms Platts highlighted:
There was a discussion around the best way to target communications. Ms Platts confirmed she was looking at different ways of communication and shared with the Board a short video she had been working on to familiarise Employers with the information available from the Fund’s webpages. There were three videos which would be added to the Fund’s website, embedded within the most appropriate content pages. The topics of the videos were:
The group briefly discussed the videos project. The Chairman thanked Ms Platts for showcasing the ... view the full minutes text for item 5. |
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i-Connect / Pensions "Online" Update PDF 130 KB Minutes: Ms J Edwards, Pensions & Investments Manager, gave an overview of the report circulated with the agenda.
Ms Edwards confirmed it was now standard practice for new employers to join iConnect however this was not always happening, for example with district councils who wanted to wait for further information regarding unitary.
RESOLVED: The Board noted the report.
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Annual Review of Buckinghamshire Pension Board PDF 152 KB Additional documents: Minutes: Mrs C Lewis-Smith, Principal Pensions Officer, gave an overview of the draft report circulated with the agenda.
The Chairman noted the lower attendance rate for this meeting compared to the previous year. He felt there was still good reasons when people were unable to attend.
Ms Pearce asked for it to be noted she was only to attend days 1-2 of the recent training.
The Chairman confirmed he would provide comments for the report prior to the deadline required for inclusion in the Pension Fund Annual Report & Accounts.
RESOLVED: The Board noted the report.
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Administration Performance Statistics PDF 159 KB Minutes: Ms S Price, Principal Pensions Officer, gave an overview of the report circulated with the agenda.
Ms Price highlighted the following:
Members of the board asked for confirmation of the following acronyms.
RESOLVED: The Board noted the report.
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Pension Administration Strategy PDF 153 KB Additional documents: Minutes: Mrs C Lewis-Smith, Principal Pensions Officer, gave an overview of the report circulated with the agenda.
Mrs Lewis-Smith highlighted that the strategy was not due for renewal until 2020 but one of the action points from the Pension Improvement Review was to revise the strategy this year. This included reviewing charges as the work involved could vary dependant on the nature of the issue(s) and the time spent to resolve it/them. There would still be a review in 2020 and the tri-annual review requirement would continue.
The following points were discussed:
ACTION: Mrs Lewis-Smith
ACTION: Mrs Lewis-Smith
RESOLVED: The Board noted the report.
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Minutes: Mrs C Lewis-Smith, Principal Pensions Officer, confirmed the plan had been updated to increase the number of meetings from three to four meetings a year. As previously discussed the December meeting would have fewer agenda items to allow for training opportunities.
RESOLVED: The Board noted the report.
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Annual Benefits Statements- Administration Year End Update PDF 145 KB Minutes: Mrs C Lewis-Smith, Principal Pensions Officer, gave an overview of the report circulated with the agenda.
Mrs Lewis-Smith highlighted that many of the cases left outstanding were more complex and often historical ones. She confirmed the team were working with the employers involved. The Chairman noted the hard work from the team.
RESOLVED: The Board noted the report.
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Exclusion of the Press and Public To resolve to exclude the press and public as the following item is exempt by virtue of Paragraph 3 of Part 1 of Schedule 12a of the Local Government Act 1972 because it contains information relating to the financial or business affairs of any particular person (including the authority holding that information) Minutes: RESOLVED
That the press and public be excluded for the following item which is exempt by virtue of Paragraph 3 of Part 1 of Schedule 12a of the Local Government Act 1972 because it contains information relating to the financial or business affairs of any particular person (including the authority holding that information)
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Annual Benefit Statements - Confidential Appendix Minutes: Mrs C Lewis-Smith, Principal Pensions Officer, gave an overview of the report’s confidential appendix which was circulated with the agenda.
Mrs Lewis-Smith stated that historical queries from Milton Keynes Council had been reduced considerably using a partnership working approach. This had also resulted in lower costs compared to going down a sanctions route.
The following points were discussed:
RESOLVED: The Board noted the report.
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Confidential Minutes Pension Fund Board To review the confidential minutes of the Pension Fund Board meeting held on 10 October 2018. Minutes: RESOLVED: The confidential minutes of the meeting held on 10 October 2018 were AGREED as an accurate record and signed by the Chairman.
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Confidential Minutes of the Pension Fund Committee To review the confidential minutes of the Pension Fund Committee held on 26 November 2018. Minutes: RESOLVED: The confidential minutes from the Pension Fund Committee meeting 26 November 2018 were NOTED by the Board.
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Brunel Pension Partnership Update Minutes: Ms J Edwards, Pensions & Investments Manager, gave an overview of the report circulated with the agenda. The report included the minutes of their last oversight board and informal notes from the meeting.
The Board confirmed they were happy with the level and style of information from Brunel.
RESOLVED: The Board noted the report.
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Date of Next Meeting/AOB 18 July 2019, 11am, mezz 3, New County Offices Please note the later start time. Minutes: 18 July 2019, 10am Mezzanine Room 2, New County Offices.
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