Issue - meetings

Report of the Director of Finance

The Committee received a report of the Director of Finance and Assurance which reviewed the Pension Fund’s Governance Compliance Statement.  An officer introduced the report stating that the arrangements were reviewed periodically with the last review being 24 March 2021.  The Statement reflected the Pension Board’s comments.  It was noted that the role of the Pension Board was to review and test policies prior to submission to the Committee.

The officer informed the Committee that, in relation to principle G – Access, the Board had raised a concern that the Chair and members of the Pension Board were not able to attend Part ll of the Pension Fund Committee meetings or to see Part ll papers.  The Committee noted that this matter had previously been raised with the monitoring officer who had ruled that this approach was correct.

Representatives of Aon and Hymans Robertson indicated that from their experience it was common for Pension Board members to be invited to Pension Fund Committees and to have full access to the papers.  An Independent Adviser indicated that it would be more normal for the Chair of the Pension Board or their representative to attend the whole meeting, with the rest of the Board being given full access to papers, including Part ll.

The Committee were of the view that it was logical that the Board attend and make comments as appropriate, particularly as it had been made aware that most other Pension Boards were allowed access.  It was further noted that no voting rights were involved. It was agreed that the monitoring officer be requested to reconsider the matter.

In response to a question from an Independent Adviser regarding the delegated functions of the Director of Finance and Assurance, the Committee was advised that the Director would only act in accordance with decisions previously made by the Committee.  The delegation meant that the signing off of agreements did not have to wait until the next meeting of the Committee.

RESOLVED:  That

(1)            the latest position on the LGPS Good Governance Review be noted;

(2)            the updated Governance Compliance Statement be approved for adoption;

(3)            the Monitoring Officer be requested to review the advice that the Chair and Members of the Pension Board were not able to attend Part ll of the Pension Fund Committee meetings or to see Part ll papers.