Agenda item

Report of the Chamberlain and the Comptroller & City Solicitor.

The Board considered a report of the Chamberlain and the Comptroller and City Solicitor setting out a policy for reporting Breaches of the Law in relation to the City Corporation’s Local Government Pension Scheme and City of London Police Pension Scheme.

The Assistant City Solicitor introduced this item remarking that the proposed procedure has been compared to the Code of Practice and it follows this.  It was explained that the policy follows a green, red and amber coding framework as set by the Pension Regulator with key individuals for reporting breaches being the Corporate Treasurer and Deputy Chamberlain.  The Assistant City Solicitor referred to a discussion at Police Pension Board where concern was raised with the 30 day reporting period being too long and with the distinction not being clear on who to report to.

The Chairman commented that the policy should provide an option to report direct to the Monitoring Officer in the first instance rather than the Pension Regulator if an individual has any concern that their reporting might go to the perpetrator.   This would prevent people from going to the Pension Regulator when they may not have the full facts.

During the discussion that followed it was agreed that the thrust of what is said is supported, but that the policy should be amended to read that reporting will go to the Monitoring Officer in the first instance.   It was noted that when reporting a breach an individual can go to any one of the named officers and it was suggested the names of the present incumbents along with their contact details and nominated deputies should be included.  It was accepted by the Board that a 30 day policy would be the right kind of approach, but that there should be no instances where the Pension Regulator is informed of a breach before the Board. 

The Corporate Treasurer clarified that breaking the law would be the only instance where a breach would be notified to the Pension Regulator immediately.  Following discussion it was agreed that any instance where the Pension Regulator is notified immediately that the Pensions Board would be notified contemporaneously.   It was noted that any serious breaches would result in a special meeting of the Pensions Board.

The Deputy Chairman proposed circulating an updated policy document with track changes having taken into account the views of this Board and Police Pensions Board and delegating approval to the Chairman and Deputy Chairman to sign off the final policy.

It was agreed by the Board to remove Barnet Waddingham branding from the Policy.  The Chairman concluded this item and remarked that it would good to have an agreed breaches policy in place by the end of this financial year.

Resolved:-That an updated policy document is circulated to the Board for final comments having taken into account comments from this Board and the Police Pensions Board and that approval of the final policy is delegated to the Chairman and Deputy Chairman in consultation with the Town Clerk.