Agenda item

The Board considered a report on objectives and priorities, together with a draft business programme for 2015/16. The Chair invited comments from Board Members on the content of the report.

It was agreed that the six functions set out in the report reflected a good range in terms of the Board's remit.

The Board discussed the importance of being seen to be independent and to avoid any perception that its work was being led, or influenced, by the Pension Fund itself. The importance of communication was noted and, particularly, how individuals/groups could bring matters to the Board's attention. It was suggested that a 'job description' could be drawn up for the Board and placed on the Fund's proposed website which, it was envisaged, would include a section on the Board. The possibility of a Communications Plan was discussed and utilising the member and employer newsletters for highlighting the existence and work of the Board and how to make contact. It was noted that the Fund's proposed website was not up and running but that, in the meantime, information on the Board could be included on the Scheme's website with the proviso that it related to Lancashire only.

It was felt that communication for members and employers was good but that, in relation to members, consideration needed to be given to those members who did not use electronic forms of communication. It was confirmed that drop in sessions were held for pensioner members on an annual basis and that hard copies of all literature could be provided.

The possibility of an annual general meeting for the Pension Fund was discussed with similar meetings for other funds attracting a good degree of interest/attendance. This could be another potential vehicle for advertising the remit and work of the Board.

It was felt that the work to date on the proposed partnership with LPFA had not been communicated as well as it might have been but it was noted that the Pension Fund Committee had only the previous week approved a recommendation to move to the next stage and that a communications consultant had now been appointed to work jointly across both schemes. It was suggested that the consultant could be used to develop a communications strategy for the Board.

It was reported that should the Pension Fund Committee approve any further proposals relating to the proposed LCPF/LPFA partnership at its meeting in November, the Board would be consulted as one of the key stakeholders.

Reference was made to scheme costs and that a review of costs was being undertaken on a national basis and that this was something that the Board could look at.

Resolved: - That:

(i)  The report, now presented, be noted;

(ii)  That the issue of communication be included as an agenda item for the next meeting of the Board;

(iii)  Information on the Board be included on the scheme's website in advance of a dedicated section being included on the proposed fund website when launched;

(iv)  That consideration be given to utilising the communications consultant appointed to work on the proposed LCPF/LPFA partnership to develop a communications strategy for the Board;

(v)  That, in addition to (ii) above, the following areas be considered by the Board over the course of the next few meetings:

·  Discretions and Abatements

·  Compliance with The Pension Regulator

·  Proposed partnership between LCPF and LPFA

·  Scheme costs