Agenda and minutes

Venue: Committee Room - 2nd Floor West Wing, Guildhall

Contact: George Fraser
Tel.No.: 020 7332 3414  Email:

No. Item


Apologies for absence


There were no apologies for absence.


 ...  view the full minutes text for item 1.


Members Declarations under the Code of conduct in respect of items on the agenda


Members were advised that membership of the Local Government Pension Scheme was specifically exempted from being declared as an interest.


 ...  view the full minutes text for item 2.


Minutes pdf icon PDF 197 KB

To agree the public minutes and summary of the meeting held on 17 January 2017.

 ...  view the full agenda text for item 3.


The public minutes and summary of the meeting held on 17 January 2017 were approved with one matter arising.


In response to a member’s question, the Chamberlain confirmed that the City’s Police Pension Scheme has been registered with the Pensions Regulator.



The Chairman also welcomed new Member Alexander Barr to the Police Pensions Board for his first meeting.


The Chairman informed Members that the Pensions Administration Manager, Charlie Partridge would shortly be retiring after 29 years in the role within the Chamberlain’s department.  On behalf of the Board, the Chairman expressed his thanks for his long standing service.


The Chairman declared that it had been agreed that John Todd will be taking on the role of Deputy Chairman for the coming year.  Official confirmation of this will take place at the next meeting of the Police Committee on 18th May.



 ...  view the full minutes text for item 3.


The City of London Police Pension Scheme - Update pdf icon PDF 88 KB

Report of the Chamberlain

 ...  view the full agenda text for item 4.

Additional documents:


The Chairman introduced the report relating to a range of topics in the Police Pension Scheme that included the suite of documents requested at the last meeting.


The report outlined the following items for the consideration of the Police Pensions Board:


Annual Schedule of Events for the Pension Scheme


The Board considered the annual schedule of events relevant to the Police Pension Scheme and noted that all deadlines are currently being met. The Chairman suggested that the Board should provide an annual report to the Police Committee and it was agreed to add this to the Annual Schedule of Events. (1)


Annemarie Allen suggested that the requirement to issue Pension Savings Statements by 6 October be added to the Annual Schedule and it was agreed to do so. (2)


Information on Scheme Record Keeping


The Chamberlain explained to the Board the extent of member data maintained with reference to Appendix 2.  The information outlines the comprehensive range of member data held for members of the Police Pension Scheme, including personal details, contribution records, nomination details, pay and information on leavers/deferred and pensioners.


The Board was advised that the Pensions Team carry out regular data accuracy checks as part of the annual updates procedure. They also use a mortality screen service, issue annual life certificates to those living abroad and participate in the National Anti-Fraud Network (NAFN).  This ensures compliance with regards to deaths, re-employment with another police authority and injury pensions where an injury benefit is being paid by the State.


The Board requested that a table showing membership numbers by category of membership be provided. (3)


The City of London Police Pension Scheme Risk Register


The Board considered the Risk Register, and a Member suggested that for Risk 3 (Pension Scheme Administration), the Causes should be separated into two

 ...  view the full minutes text for item 4.


Police Pensions Board - Work Programme pdf icon PDF 58 KB

Report of the Town Clerk

 ...  view the full agenda text for item 5.


The Chairman questioned the Work Programme with regard to the lack of dates set out for future meetings of the Board. It was agreed that the dates will be added. (5)


 ...  view the full minutes text for item 5.




The Board were given a presentation on the Police Pension Scheme by Annemarie Allen of Barnett Waddingham.


The presentation covered:


The Police Pensions Schemes, Regulations & Guidance


Ms Allen explained that the Home Office are responsible for the Scheme and that the Police Pensions Regulations 2015 were laid before parliament on 5 March 2015, and came  into force on 1 April 2015.  They contain the new Police Pensions Scheme provision and transition arrangements from the previous Schemes.


She noted that this legislation makes legal provision for governance of the Police Pensions Schemes as required by the PSPA 2013 regarding establishment of the Police Scheme Advisory Board and Police Pension Boards as well as a Scheme Actuary and Employer Cost Cap.



The Board were given a comparison of the three schemes initiated in 1987, 2006 and 2015.  1987 and 2006 were final salary schemes, and 2015 is a career average scheme.


The process of transition to the 2015 Scheme was explained including the protections for those in the previous schemes at 31 March 2015.



Ms Allen also explained that the regulations refer to Government Actuary Department (GAD) guidance and its role, noting some examples such as  commutation limits and factors, transfer values and pension sharing on divorce, purchase of added pensions, pension tax charge debits and early retirement reductions and late retirement uplifts.


Overriding Pensions Legislation


Ms Allen explained the importance and role of overriding pensions legislation, noting some examples such as:

-       Data Protection Act 1998 / GDPR 2018

-       Freedom of Information Act 2000

-       Occupational & Personal Pension Schemes (Disclosure of Information) Regulations 2013

-       Pensions Act 2008 (Auto enrolment)

-       Welfare Reform & Pension Act 1999 (Pensions sharing on divorce)

-       Provisions and reform around exit payments


A summary of overriding legislation concerning record keeping and pension tax was

 ...  view the full minutes text for item 6.


Questions on matters relating to the work of the board


There were no questions.

 ...  view the full minutes text for item 7.


Date of Next Meeting

To agree a date for the next meeting.

 ...  view the full agenda text for item 8.


RESOLVED – That the Town Clerk arrange dates for the next two meetings of the Board in September/October and January via a Doodle Poll amongst its members. (5)


 ...  view the full minutes text for item 8.


Any other business that the Chairman considers urgent


There were no items of urgent business.

 ...  view the full minutes text for item 9.