Agenda and draft minutes

Venue: Hendon Town Hall, The Burroughs, London NW4 4AX

Contact: Paul Frost  Email: Paul.Frost@Barnet.gov.uk - 0208 359 2205

Items
No. Item

1.

Minutes pdf icon PDF 79 KB

    Minutes:

    Prior to the minutes being considered the Chief Finance Officer, Mr Kevin Bartle stated that at the last meeting the committee requested at item 8 in the minutes that a report would be submitted to the Pension Fund Committee.   He apologised to Members as he stated that the report could not be presented.  Mr Bartle said that Hymans had produced a report but the Council had not had the opportunity to review the information.   The Committee noted that a full report will be presented at the next meeting of the Pensions Fund Committee.

     

    The Chairman provided the Committee with an update on the CIV which was in relation to item 11 in the minutes.  He said that he would continue to keep Members updated and therefore would do so again at the meeting following the CIV next shareholders meeting.

     

    Councillor Alison Moore stated that at the last meeting the Pension Fund Committee it was agreed that a Work Programme item would feature on the agenda as a standing item, however it again was not presented.  She said that in the interest of good governance and probity it was important to have a work programme for the Pension Fund Committee like all other Council Committees. 

     

     

    Resolved:

    -       That the Committee noted the verbal representations

    -       That the Committee request a standing work programme item and noted it’s importance

    -       That the minutes of the meeting held on 16 October 2018 were approved as an accurate record

2.

Absence of Members

3.

Disclosable Pecuniary interests and Non Pecuniary interests

4.

Public Question and Comments (if any)

5.

Report of the Monitoring Officer (if any)

6.

Members' Items (if any)

7.

Managing the cost of the LGPS pdf icon PDF 252 KB

    Additional documents:

    Minutes:

    The Head of Treasury and Pension introduced the report.

     

    He stated that the Scheme Advisory Board had developed proposals to improve the LGPS benefits that will result in higher contribution rates for employers.  He told the Committee that is was expected to have a consultation on the proposals during Q1, 2019.  He added that there will be a consultation with employers and staff. 

     

     

    Having considered the report, the Committee:

    1.    The Pension Fund Committee noted the proposals from the Scheme Advisory Board and delegated approval to the Director of Finance to respond to the expected MHCLG consultation on the proposed changes to the LGPS.

    2.    The Pension Fund Committee requested that Members of the Committee be sent the communication as mentioned in resolution 1 above.

8.

Motion to Exclude Press and Public

    Minutes:

    RESOLVED that under Section 10A (4) of the Local Government Act 1972 the public be excluded from meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in paragrpahs 2 and 7 of Part 1 of Schedule 12A of the Act (as amended).

9.

Pension Fund investment Performance - Exempt

10.

Private Debt Allocation Review - Exempt

11.

Investment Strategy Update pdf icon PDF 256 KB

    Additional documents:

    Minutes:

    The Head of Treasury and Pension introduced the report.

     

     

    Having considered the report, the Committee:

    Resolved

    -          Agreed to request Hymans Robertson to identify suitable private equity and emerging market funds for presentation to outline investment opportunities at the next meeting on 26 March 2019 the next meeting.

    -          Requested that it be noted that a presentation was delivered by Janus Henderson prior to the meeting in respect to emerging markets. 

    -          That the exempt information contained in appendix A be noted

     

12.

Pension Fund Costs and Expenses_Exempt

13.

Transfer Value in respect of Barnet Southgate College_Exempt

14.

Any item(s) that the Chairman decides is urgent