Agenda and minutes

Pension Board
Monday 12 July 2021 10:00 am

You can view the individual reports for this meeting by selecting the headings from the numbered list of items at the bottom of this page. Alternatively you can view the entire agenda by selecting 'Agenda Reports Pack' below.

Watch Council meetings here

Venue: Virtual Meeting

Contact: Kevin Jones  0208 547 6622 Email: kevin.jones@kingston.gov.uk

Media

Items
No. Item

1.

Apologies for absence

Minutes:

Apologies were received from Sam Burgess

2.

Declarations of interest

Minutes:

There were no declarations of interest

3.

Minutes

To confirm as a correct record the minutes of the meeting held on …………………

Minutes:

RESOLVED that the minutes of the meeting held on 22 March 2021 be signed as a correct record

4.

Pension Administration Update pdf icon PDF 81 KB

This report provides an update on the key activities of the Shared Pensions

Administration Service (“the Service”), which was formed on 1 April 2016 to provide Local Government Pension Scheme (“LGPS”) administration for both Kingston Council Pension Fund (“the Fund”) and Sutton Council Pension Fund.

Minutes:

The Board received a report by the Head of Insurance and Pensions Administration which provided an update on the key activities of the Shared Pensions Administration Service. The report included updates on the McCloud Remedy Project, Annual Returns and Annual Benefit Statements, Guaranteed Minimum Pension Reconciliation Project, Data Improvement, FRS 102 and IAS 19 Reports, Processing Performance and Open Processes. 

Employer side Members asked that Officers contacted them regarding requests for information that had been made regarding FRS102’s and valuation reports. Officers agreed to respond to the requests outside of the meeting.

 

The Board NOTED the report.

5.

Governance update pdf icon PDF 68 KB

A progress update on the Governance Review project.

Minutes:

The Board had before it a report by the Head of Pensions Investments (Sutton and Kingston Finance Shared Service) which gave a progress update on the

Governance Review project. The report note that the costs of the review would be shared equally between Kingston and Sutton and reports would be made to the Panel at the September and December meetings and to the Board at the October meeting.

 

The Board NOTED the report.

6.

Review of the work programme pdf icon PDF 45 KB

To set out the proposed work programme.

Minutes:

The Board received a report by the Head of Pensions Investments (Sutton and Kingston Finance Shared Service) which set out the proposed programme of work for the Pensions Board for the next three meetings

 

The Board agreed to NOTE the Work Programme

7.

Exclusion of Press and Public

The following resolution is included as a standard item which will only be relevant if any exempt matter is to be considered at the meeting for which the Committee wish to resolve to exclude the press and public: To exclude the public from the meeting under Section 100(A)(4) of the Local Government Act 1972 on the grounds that it is likely that exempt information, as defined in paragraph *….of Part I of Schedule 12A to the Act, would be disclosed and the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

(*relevant regulatory paragraph to be indicated)

Minutes:

As the following items to be considered at the meeting were exempt items, the Board RESOLVED to exclude the public from the meeting under Section 100(A)(4) of the Local Government Act 1972 on the grounds that it was likely that exempt information, as defined in paragraph 3 of Part I of Schedule 12A to the Act, would be disclosed and the public interest in maintaining the exemption outweighed the public interest in disclosing the information.

 

Voting: Unanimous

8.

Pension Fund Panel Update

To summarise the papers presented to Panel on 28 June 2021

Additional documents:

Minutes:

The Board had before it an exempt report by the Head of Pensions Investments (Sutton and Kingston Finance Shared Service) which summarised the papers presented to the Pension Fund Panel on 28 June 2021

 

The Board NOTED the report.

9.

Procurement Update

To update Board on the various procurements with regards to the RBK Pension fund.

Additional documents:

Minutes:

The Board received an exempt report by the Head of Pensions Investments (Sutton and Kingston Finance Shared Service) updating the Board on the various procurements with regards to the RBK Pension fund

 

The Board NOTED the report

10.

Urgent items authorised by the Chair

Minutes:

There were no urgent items authorised by the Chair.