Decision details

The Head of Fund presented a report on the Part II items which had been considered by the Pension Fund Committee on the 30^th June 2017. The Board considered each item, making comments as appropriate.

a)  Local Pension Partnership business plan and 3 year budget.

It was noted that LPP had appointed a Relationship Manager who worked with the Head of Fund in relation to the LCPF. The Board acknowledged that LPP had made significant achievements over the previous 12 months and suggested that attention now needed to focus on resources and governance moving forward. 

b)  Local Pensions Partnership - Quarter 4 Update

It was noted that the update did not report on all the administration KPIs. The board requested that performance against KPIs should be reported on a regular basis.

c)  Supply of Pension Fund Actuarial Services

The Board noted that the Committee had agreed that the County Council's Procurement Service undertake a procurement exercise via the National LGPS Framework to appoint an independent provider, to undertake actuarial services for the LCPF for the next 6 years, on the basis set out in the report presented.

It was reported that the outcome of the procurement exercise would be reported to the Committee on 15^th September 2017.