Issue - meetings

Chairs repot on Lancashire Local Pension Board Appraisal

 

 

Meeting: 24/04/2018 - Lancashire Local Pension Board (Item 8)

8 Chairs report on the Lancashire Local Pension Board Appraisal pdf icon PDF 82 KB

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Minutes:

The Chair presented his report on the findings of the series of one to one meetings with individual members of the Board and Officers in relation to the operation of the Board over the last 12 months.

 

With regard to the recommendations set out in the report it was noted that the Terms of Reference of the Board had been amended to refer to scheme member representatives as reported earlier in the meeting. The proposal for individual members of the Board to take the lead on discussions around specific areas of work was welcomed, though it was felt that all members should be responsible for ensuring the Fund complied with regulations and statutory guidance.

 

The recommendations regarding training were discussed and the Chair reported that he had been invited to attend the Annual General Meeting for the LCPF on the 19th June 2018 to give a presentation on the role of the Board.

 

Resolved:

 

1.  That the review and subsequent amendment of the Terms of Reference of the Board in relation to the scheme member representatives is noted.

 

2.  That the activities of the Board be divided into areas and initially allocated to the members of the Board set out in the table below who will take responsibility for leading discussions on those areas in the future.

 

Area

 

Leads

Compliance with regulations and statutory guidance (including The Pensions Regulator and LGPS regulations).

All Board members

Communications (including communications policy, engagement).

Y Moult &

C Gibson

Administration (including KPIs, ABSs, and administration breaches)

Y Moult &

S Thompson

Information Technology (including Fraud Control, Data Protection, Cyber security)

C Wakeford & the Chair

Investment strategy (including Investment Strategy Statement, Actuarial report and Responsible Investment).

R Harvey &

S Thompson

Service providers governance (including LPP, custodian and audit)

C Wakeford & R Harvey

Risk Register

C Gibson &

S Thompson

 

3.  That arrangements be made for training regarding the role of the Pension Board to be made available to members of the Pension Fund Committee and newly appointed members of the Board at the briefing ahead of the Committee on the 8th June 2018.

 

4.  That arrangements be made for members of the Board be given specific training on record-keeping and reporting breaches of law at a future internal training workshop.

 

5.  That regular articles on the activity of the Pension Board be produced for circulation via Employer/Member newsletters or other communications.

 

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