Decision details

(Not for Publication – Exempt information as defined in Paragraphs 1, 2 and 3 of Part 1 of Schedule 12A to the Local Government Act, 1972. It is considered that in all the circumstances of the case the public interest in maintaining the exemption outweighs the public interests in disclosing the information.)

Sean Greene, Head of Pension Fund presented a private and confidential report which set out Local Pensions Partnership Limited's pay proposals for 2024/25 and proposed changes to the company's Remuneration Policy.

Resolved: That

i)  The changes to the Local Pensions Partnership Limited Remuneration Policy, as set out at Appendix 'A', be approved;

ii)  The remuneration (including bonuses) of the Chief Executive Officer of Local Pensions Partnership Limited and Managing Director of Local Pensions Partnership Administration for 2024/25, as set out at Appendix 'B', be approved;

iii)  The proposed remuneration (including bonuses) of the Chief Risk Officer, Chief Operating Officer, and Chief Investment Officer of Local Pensions Partnership Investments for 2024/25, as set out at Appendix 'B', be noted;

iv)  The 2024/25 Pay Grade Structures for Local Pensions Partnership Investment and Local Pensions Partnership Administration, as set out at Appendices 'C' and 'D', be approved; and

v)  A further report on the required remuneration reporting for salaries over £100,000 be presented to the Employment Committee at its next meeting on 2 July 2024.