Agenda item

Report of the Chamberlain.

Members considered a report of the Chamberlain regarding the City of London Police Pension Scheme – Risk Register and the following points were made.

·         Members agreed that the recommendation regarding further risks relating to the pension administration overseen by the Board should reference that the Board had considered further risks, rather that Member’s confirming that there were no further risks.

·         Members agreed, regarding Risk CHB COLP PSB 01 – Actuarial Data, that it was not possible for the Board to influence what data other Forces provided to the Home Office, and therefore the risk impact rating should move one space to the right to err on the side of caution.

·         A Member noted the discussion regarding the McCloud ruling earlier on the agenda and queried whether Force Human Resources could be involved in the management of Risk CHB COLP PSB 08c (making preparations for managing expectations for those officers affected by the remedy). In reply, the Director of Human Resources (Force) noted that the Force had links into national police pay bodies that were co-ordinating a response to the ruling from National Police Chiefs’ council point of view.

·         The Chairman noted that the Board had been conscious for some time of the need to ensure the Force was as proactive as possible in communicating the implications of the McCloud ruling with scheme members, and welcomed therefore the engagement with the Board from the Force Finance and Human Resources representatives to date. The Board was firmly of the view that scheme members were guided as unambiguously as possible, and that they would need professional financial advice.

·         The Town Clerk noted that the Chairman and Deputy Chairman were free to liaise with their counterparts on the City of London Police Authority Board to emphasise the points made regarding effective communication to scheme members.

RESOLVED, that subject to the comments made, Members,

·         Note the existing risks and actions present on the City of London Police Pensions Board Risk Register, and confirm that appropriate control measures are in place;

·         Note that they had considered further potential risks relating to the pension administration overseen by the City of London Police Pensions Board.