Agenda item

The Board discussed appropriate objectives and a Work Plan for 2016/17.

The Chairman commented, and the Board agreed, that it would be appropriate to meet four times per year for the Board’s first year and reduce to three meetings a year thereafter.

Members noted that the presentation had indicated that identifying internal controls, Scheme record keeping and providing information to members as key areas were key areas of work for the Board. Therefore, the initial work programme should focus on these issues.

The Board agreed that at the next meeting it should be presented with:

-       Documentation of all of the information which was circulated to scheme members. This should include example Annual Statements for different types of members, information provided to scheme members regarding retirement (including details of when this information was provided to scheme members) and information provided to new starters regarding the Pension Scheme as part of the induction process, as well as any other communications to scheme members. Members also commented that it may be beneficial to review how information regarding the Pension Scheme could be embedded into the induction process, possibly through electronic learning modules, and for information to be provided to staff at regular intervals to ensure that staff were aware of all of the benefits of the Pension Scheme.

-       Further information regarding the Regulations governing the Pensions Board, to ensure that the Board could satisfy itself that it was addressing all areas expected by the Regulations, including the legal requirements of the regulations for communications and other administrative matters.

-       a schedule of events and deadlines for all activities undertaken for the Scheme throughout the year.

-       further information regarding national guidance to Pensions Boards and how the guidance applied to this Board.

-       Information of the Admitted Bodies to the Scheme.

At the next and all future meetings, the Board agreed that it should be presented with:

-       reports identifying any breaches of the law.

-       Information of Scheme Record Keeping;

-       information regarding the Risk Register for the Pensions Department, so that it could be assured that risks were appropriately identified and monitored. It was agreed that Officers should ensure that the risk register included organisational and financial issues.

-       a record of complaints or disputes under the Local Government Pensions Scheme Complaints procedure.

-       Any audit reports relating to the administration of the Pension Scheme.

-       Receiving reports relating to the Pensions Scheme which would be considered by the Investment Committee, Financial Investment Board or Establishment Committee.

The Board requested that the Town Clerk and Chamberlain collate the comments of the Board to develop a work programme for the Board, set out under category areas. The Board agreed that updated versions of the work programme would be presented to each meeting of the Board.

RESOLVED – That the Town Clerk and Chamberlain present an appropriate Work Programme for the Committee to its next meeting.

EXTENSION OF THE MEETING

At this point, the time limit for Committee meetings as set out in Standing Order No 40 had been reached, but there being a two-thirds majority of the Board present in favour of an extension, the Board agreed to continue the meeting.