Decision details

The Chair of the Lancashire Local Pension Board, William Bourne, attended and presented the first annual report of the Board which covered 2015/16.

Local Pension Boards had been established as a result of the Public Service Pensions Act 2013. The remit of each Board was to ensure Funds complied with legislation and policies, to ensure effective and efficient governance and administration of the scheme and, where possible, to 'add value'.

It was reported that the Board was required to produce a report on the nature and effect of its activities for consideration by the Administering Authority. The report included details of the following:

-  Attendance of members at Board meetings;

-  Training and development activities provided for members of the Board and attendance at such activities;

-  Any recommendations made by the Board to the Scheme Manager and the Scheme Manager's response to those recommendations;

-  Costs incurred in the operation of the Board.

It was noted that, in effect, the Board performed a scrutiny role and was able to provide a different perspective given that its membership included both employer and employee representatives.

Resolved: - That:

(i)  The report, now presented, be noted;

(ii)  That the Chair of the Board be thanked for his attendance and the Board be thanked for the work undertaken during 2015/16.