Agenda and draft minutes

Venue: Diamond Room, The Gateway, Gatehouse Road, Aylesbury

Contact: Anne-Marie Kenward 

Media

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Items
No. Item

1.

Appointment of Vice Chairman

To appoint a Vice-Chairman for the ensuing year.

Additional documents:

Minutes:

Cllr R Bagge was appointed as the Vice Chairman for the ensuing year.

2.

Apologies for Absence / Changes in Membership

Additional documents:

Minutes:

Apologies were received from Mr M Barber, Cllr A Collingwood, Cllr S Lambert and Cllr P Marland.

 

3.

Declarations of Interest

Additional documents:

Minutes:

There were no declarations of interest.

 

4.

Minutes of the last Pension Fund Committee pdf icon PDF 400 KB

To agree the minutes of the Pension Fund Committee, 22 April 2021.

 

To agree the minutes of the Pension Fund Committee, 26 May 2021 (appointment of Chairman).

Additional documents:

Minutes:

RESOLVED

The minutes of the Pension Fund Committee, 22 April 2021 were AGREED as an accurate record.

 

RESOLVED

The minutes of the Pension Fund Committee, 26 May 2021 were AGREED as

an accurate record.

5.

Minutes of the last Pension Fund Board pdf icon PDF 619 KB

To note minutes of the last Pension Fund Board held 17 March 2021.

Additional documents:

Minutes:

RESOLVED

The minutes of the Pension Fund Board held 17 March 2021 were NOTED by

members of the committee.

 

6.

Communication Policy Statement pdf icon PDF 572 KB

To be presented by Claire Lewis-Smith, Pensions Administration Manager, Buckinghamshire Council.

Additional documents:

Minutes:

Mrs C Lewis-Smith, Pensions Administration Manager, Buckinghamshire Council, referred to the report circulated with the agenda.

 

The Buckinghamshire Pension Fund reviews the policy every three years, the last policy receiving approval in February 2020. As a result of the Covid pandemic, communication methods have evolved, and an interim review of the policy has been undertaken. The next review date would remain as February 2023.

 

Members of the committee were asked to APPROVE the interim statement, page 18 of the agenda pack.

 

RESOLVED

Members of the Pension Fund Committee APPROVED the interim Communication Policy Statement.

 

7.

Administrating Authority Discretionary Policy pdf icon PDF 571 KB

To be presented by Claire Lewis-Smith, Pensions Administration Manager, Buckinghamshire Council.

Additional documents:

Minutes:

Mrs C Lewis-Smith, Pensions Administration Manager, Buckinghamshire Council, referred to the report circulated as a supplement to the agenda.

 

RESOLVED

Members of the Pension Fund Committee APPROVED the Administrating Authority Discretionary Policy

 

8.

External Audit Plan

To be presented by Grant Thornton.

Additional documents:

Minutes:

Mrs R Martinig, Pensions & Investment Accountant, Buckinghamshire Council, explained Grant Thornton had not been able to provide a copy of the draft audit plan ahead of this meeting. This item would be brought to a future meeting.

 

9.

Draft Pension Fund Accounts pdf icon PDF 565 KB

To be presented by Rachael Martinig, Pensions & Investment Accountant, Buckinghamshire Council.

Additional documents:

Minutes:

Mrs R Martinig, Pensions & Investment Accountant, Buckinghamshire Council, referred to the report circulated with the agenda.

 

The Committee was asked to review the Draft Statement of Accounts for the

Buckinghamshire Pension Fund for the year ended 31 March 2021.

 

Mrs R Martinig highlighted that while the deadline for completing the pension accounts was July 2021 the final sign off could not happen until the overall Buckinghamshire Council accounts were signed. Auditor Grant Thornton had already indicated a delay to signing those accounts in September 2021.

 

Members of committee asked for the following considerations to be taken:

·         A clearer indication of whether transfers mentioned on pages 41, 42, and 67 where into or out of the Buckinghamshire Pension Fund.

·         Further information about the Funds commitment to climate change in line with recent changes to accounting standards, Mrs Martinig stated these would come into effect from the 2022/23 accounts.

 

RESOLVED

Members of the committee NOTED the update.

 

10.

Forward Plan pdf icon PDF 351 KB

To be presented by Julie Edwards, Head of Pensions, Buckinghamshire

Council.

Additional documents:

Minutes:

RESOLVED

Members of the committee noted theforward plan circulated with the agenda.

 

11.

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)

Additional documents:

12.

Confidential minutes of the last meeting

To agree the confidential minutes of the Pension Fund Committee, 22 April 2021.

13.

Confidential Minutes Pension Fund Board

To note the confidential minutes of the Pension Fund Board held 17 March 2021.

14.

Pension Fund Performance

To be presented by Julie Edwards, Head of Pensions, Buckinghamshire Council.

15.

Brunel Pension Partnership Update

To be presented by Brunel.

16.

Investment Strategy Update

To be presented by Mercer.

17.

Date of the next meeting

9 September 2021, 10am

Additional documents:

Minutes:

9 September 2021, 10am