Decision details

The Chair presented a report on proposed amendments to the existing Terms of Reference in the light of changes to the governance arrangements following the establishment of the Local Pensions Partnership.

With regard to the suggestion that the Chair be authorised to raise concerns about LPP's activities directly with the Pension Fund's Shareholder Director on the LPP Board Abbi leech, head of Fund reported that concerns should initially be raised with the Chair of the Pension Fund Committee. Both Chairs could then discuss the matter which if necessary could be referred to the Pension Fund Committee as a whole for discussion and ultimately to Full Council.

Some members of the board suggested that the proposed changes to the terms of Reference were not sufficiently broad to allow it to perform its statutory role as set by government.

In view of the discussion the Board agreed to establish a small Working Group to look in detail at the Terms of Reference and clarify the role and remit of the Board for the future. It was also noted that PWC were in the process of examining governance arrangements associated with the LPP and would be willing to hear the views of the Board.

Resolved:

1.  That a Working Group comprising of the Chair, S Browne and R Harvey be established to examine in detail the future role and remit of the Pension Board and draft a revised Terms of Reference for consideration.

2.  That arrangements be made for the Chair and selected members of the Board to meet with representatives of PWC to discuss the role/remit of the Board as part of the wider consideration of governance arrangements associated with LPP.

3.  That the current Terms of Reference be amended to allow members to serve a second term in accordance with the Public Service Pensions Act 2013.

4.  That with regard to attendance the wording of the current Terms of Reference be amended by replacing 'is required to attend at least 3 meetings' with 'is expected to attend all meetings'.