Decision details

Mr Wallbank informed the Board that he would resign as a Scheme Member representative with effect from the 20^th January 2021. The Chair and Board Members thanked Mr Wallbank for his contributions to the work of the Board over the last two years.

It was reported that an External Auditor had been engaged to undertake the additional audit work on the Local Pensions Partnership requested by the Board at the previous meeting. The Board discussed the extent of the planned audit and how the outcomes and the level of assurance would be reported to the Audit, Risk and Governance Committee and the Board. The Interim Head of Fund reported that Board members had an opportunity to submit their suggestions for areas which should be covered by the audit which could then be fed into the scoping process. 

The Board was also updated on action taken since the last meeting with regard to the following items in the Minutes.

·  Item 3 - the new Terms of Reference for the Board had been approved by full Council and were included on the agenda for this meeting for information.

·  Item 6 - the amended strategic asset allocations had come into effect on the 1^st January 2021.

·  Item 13 - the Local Pensions Partnership Governance Charter had been approved by the Pension Fund Committee in November 2020.

Resolved:

1.  That the Board note the resignation of Mr K Wallbank with effect from the 20^th January, 2021, thank him for his contributions as a scheme member representative to the work of the Board and wish him well for the future.

2.  That all Board Members be given an opportunity to comment on the scope of the planned audit of the Local Pensions Partnership.

3.  That the updates given at the meeting are noted and the Minutes of the meeting held on the 13^th October 2020 confirmed as an accurate record and signed by the Chair in due course.