Minutes of the last meeting
Decision status: Recommendations Approved
Is Key decision?: No
It was noted that the draft Communications Policy for the Fund and the Local Pension Partnership Strategic Plan would be presented to the Pension Fund Committee on the 7th February 2020 as the meeting in November had been cancelled following the announcement of the General Election.
With regard to the number of members of the Fund had asked for information to be sent to them through the post it was reported that 3,616 requests had been received, representing 2% of the total membership (176,476) at 31st March 2019. Information regarding numbers of new members and those who had chosen to opt out of the LGPS had been circulated to Board members since the last meeting. The Board noted that over the last 5 years there had been a gradual reduction in the number of members who had opted out of the scheme which was similar to the average rate of other LGPS funds in England and Wales.
The Head of Fund informed the meeting that officers were working with the Local Pensions Partnership to develop a Governance Charter which would address the request for a briefing on the on the responsibilities of shareholders and role/structure of the Partnership made at the last meeting.
1. That the updates given at the meeting are noted and the Minutes of the meeting held on the 15th October 2019 are confirmed as an accurate record and signed by the Chair.
2. That a report on the Governance Charter for the Local Pensions Partnership be presented to a future meeting of the Board in response to the request for a briefing on the role/structure of the Partnership made at the meeting on the 15th October, 2019.
Date of decision: 14/01/2020
Decided at meeting: 14/01/2020 - Lancashire Local Pension Board