Local Pensions Partnership update
Decision Maker: Pension Fund Committee
Decision status: For Determination
Is Key decision?: No
An update on the activity of LPP for the
quarter to September 2019
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 activities of the Local Pensions Partnership which included strategic highlights and updates on the performance of the pension administration service and the financial position of the Partnership.
Mr Rule, Interim Chief Executive, Chief Investment Officer and Managing Director (Investments) reported that the recent internal audit report in relation to regulatory compliance with new Senior management and Certification Regime requirements had been returned and found procedures at Local Pensions Partnership Investment’s to be effective with some areas for improvement, most of which had already been closed.
With regard to the earlier discussion about potential difficulties for some members of the Fund to access information which was predominantly available online the Committee noted that pensioners were the most significant group within the membership who had registered to use My Pensions Online. In response to a query the Head of Fund confirmed that existing performance targets for the administration service would be reviewed over the next 12 months to ensure that they remained appropriate/relevant.
Resolved: That the updates on activity by the Local Pensions Partnership, as set out in the report presented, are noted.
Report author: Paul Dobson
Date of decision: 07/02/2020
Decided at meeting: 07/02/2020 - Pension Fund Committee