Local Pensions Partnership Strategic Plan 2020-25 and Annual Budget
Decision Maker: Pension Fund Committee
Decision status: Recommendations Approved
Is Key decision?: No
A report from LPP on their strategic plan and
budget for 2020-21
Exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972. It was considered that in all the circumstances of the case the public interest in maintaining the exemption outweighed the public interest in disclosing the information.
The Committee considered a report on the Local Pension Partnership Strategic Plan and 2020/21 Budget, which had been developed in consultation with stakeholders and noted that the Strategic Plan included the following goals for the Partnership.
· To achieve a self sustaining financial position
· That returns meet client objectives
· Provide a high quality cost effective pension administration service
· Reflect local and international excellence
· Be an exciting, forward thinking and collaborative place to work.
With regard to responsible investment it was noted that the Investment Panel was in the process of reviewing existing asset allocations and had requested an audit of Environmental, Social and Governance elements across the whole portfolio and would report back to the next meeting.
The Committee also discussed details in the budget, including the pension administration service and staff costs. It was noted that detailed pay proposals would be considered by the Employment Committee on the 14th March 2020.
1. That the 2020/25 Strategic Plan for the Local Pensions Partnership, as set out in Appendix 'B' to the report presented, is approved.
2. That the 2020/21 budget for the Local Pensions Partnership, as set out in Appendix 'D' to the report presented, is approved.
Report author: Paul Dobson
Date of decision: 06/03/2020
Decided at meeting: 06/03/2020 - Pension Fund Committee