Decision details

Feedback from Committee Members on External Pension Fund Training Events and Conferences

Decision Maker: Pension Fund Committee

Decision status: Recommendations Approved

Is Key decision?: No

Decisions:

The Committee considered a report setting out details of attendance by Committee Members at recent conferences, events and external training sessions.

 

County Councillor Lorraine Beavers and County Councillor Mike Otter reported on their attendance at the LGA's 13th Annual LGPS Trustees Conference which had taken place in Manchester on 23 and 24 June. The conference had been extremely useful and it would be helpful for all Committee Members to attend in the future. Areas covered included:

 

-  Transparency in costs;

-  Hidden costs and the FCA enquiry into asset management costs;

-  A consensus that Lancashire was much further advanced than other funds in terms of its partnership with the London Pensions Fund Authority.

 

It was suggested that it might be appropriate to invite speakers from the conference to attend a future meeting of the Committee or a monthly workshop.

 

County Councillor Kevin Ellard and Abbi Leech reported on their attendance at the LGC's Investment Summit which had taken place in Newport on 8 and 9 September.

 

Areas covered included:

 

-  Managing assets and liabilities in new pools;

-  Governance;

-  A presentation from the Chair of the Scheme Advisory Board;

-  As above, a consensus that Lancashire was much further advanced than other funds in terms of its partnership with the London Pensions Fund Authority.

 

Councillor Eddie Pope reported on his attendance at a workshop on the work undertaken by the Government Actuary Department in respect of Section 13 of the Public Service Pensions Act 2013, which had taken place in Durham on 2 September.

 

It was noted that, in a dry run of the valuation process, Lancashire had come out well at 93% funded.

 

Resolved: - That the report and feedback, now presented, be noted.

Date of decision: 15/09/2016

Decided at meeting: 15/09/2016 - Pension Fund Committee

Accompanying Documents: