Statutory Guidance on Asset Pooling - consultation.
Decision Maker: Lancashire Local Pension Board
Decision status: Recommendations Approved
Is Key decision?: No
The Head of Fund informed the Board that the Ministry of Housing, Communities and Local Government had invited views on the draft statutory guidance in relation to asset pooling as set out in the Appendix to the report.
When discussing the draft the Board noted the requirement to establish a 'pool governance body' to oversee operation of pooled funds and ensure that the democratic link to pool members was maintained. The Board also recognised the acknowledgement of the key role of Pension Boards in assisting authorities to secure compliance with legislation and ensure effective/efficient governance and administration of the LGPS. The Head of Fund reported that she was a member of a cross pool group of officers and would also discuss the implications of the draft guidance for Lancashire with colleagues in due course.
1. That individual members of the Board send any comments they may have on the draft statutory guidance on asset pooling to the Head of Fund by the 1st March 2019 so that she can collate views into a single response on behalf of the Lancashire County Pension Fund for submission before the 28th March 2019 deadline.
2. That the contents of the Lancashire County Pension Fund response referred to in 1 above be shared with the Local Pensions Partnership and the London Pensions Fund Authority before it is submitted.
Date of decision: 29/01/2019
Decided at meeting: 29/01/2019 - Lancashire Local Pension Board