Agenda item

Annual Workshop for Local Government Pension Boards.

A Member updated the group on his recent attendance at a workshop remarking that it had proved to be a very interesting day to see how other schemes operated and also provided a good chance to network.  

The day provided for for a lively and interesting debate with a key presentation by the scheme advisory board.  The following areas were covered during the day:-

-        Data Protection 2018.

-        A need for sharing and transparency of information between schemes and a central depository.

-        Establishment of a national network and creating a standard email address to share data.

-        Streamlining the appeals process to the ombudsman.

-        Pension fund deficits, with the City Corporation sitting somewhere in the middle.

-        Training – with people not understanding their legal requirements.

-        Continuity of Members; having a staggered process of election to the Board so there is succession planning.  There is a flaw in this Board as all were elected at the same time and on the same terms.

-        Pooling and standardising of payroll software for all the different schemes.

The Member advised that it was a day that was well worth attending and provided useful discussion and networking opportunities.    It was suggested Board Members take the opportunity to attend in future if they are able to do so.

It was agreed that the slide pack from the day will be circulated to the board.

Pensions Manager

The Chamberlain advised that a new Pensions Manager is still to be recruited.  Three applications were received in response to the recent advert, but the individuals were not considered suitable.  A further advert will go out again in the autumn and if this is not successful then a re-think will be needed.

In response to a question from a Member, the Chamberlain explained that they are looking for someone with experience in pension funds covering police, judges and LGPS and this presents difficulties within Local Government as the pool of people with this experience is becoming smaller and smaller.

The Chairman commented that someone is needed in this role with a persona and that is able to engage with Members and not just someone with technical ability

Committee Terms

The Chairman indicated his intention to step down in 2019 to allow another Member to join the board that will then allow a smooth transition in employer representative on the Board.

A Member commented that all have been appointed to the Board on four year terms and it would sensible to stagger terms.  The Chairman advised that Audit & Risk Management Committee re-appoint Members on unequal terms so these are staggered.

Sharing of Information

In response to a question from a Member regarding a voluntary code to abide by, the Chamberlain confirmed that information relating to the City Corporation’s Pension Scheme expenses and operating costs are already shared.  When sharing there is a need to be careful in how data is used.   When slides from the conference are circulated this will be looked at to see how the City Corporation is impacted.

Date Protection and Succession Planning

A member asked if data protection and succession planning could be added to the agenda at the next meeting.