Agenda and draft minutes
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Contact: Maria Lugangira 020 8359 2761 Email: maria.lugangira@barnet.gov.uk
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Minutes Minutes: RESOLVED - That the minutes of the meeting held on 2 December 2013 be approved as a correct record.
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Absence of Members Minutes: Apologies for absence were received from Councillor Daniel Seal. |
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Disclosable Pecuniary interests and Non Pecuniary interests Minutes:
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Public Question Time (if any) Minutes: There were none.
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Members' Items (if any) Minutes: There were none.
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Update on Admitted Body Organisations Minutes: The Director for Human Resources introduced the report.
RESOLVED - That the Committee note the update to the issues in respect of admitted body organisations within the Pension Fund, as detailed in Appendix 1 of the report.
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Update Report on London Collective Investment Vehicle Minutes: The Deputy Chief Operation Officer introduced the report.
RESOLVED -
1. That the Pension Fund Committee note the London Councils Leaders Committee’ endorsement of the business case and formal proposals for the implementation of a London LGPS Collective Investment Vehicle (CIV), in the form of a UK based, Financial Conduct Authority (FCA) Authorised Contractual Scheme (ACS).
2. That the Pension Fund Committee authorises the Chief Operating Officer to confirm the Pension Fund’s interest in participating in the CIV and to carry out further due diligence on the establishment of a CIV including contributing up to £25,000 to be met from the Pension Fund towards legal and setting up costs.
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Staff transfer to LB Brent Shared Registration and Nationality Service Minutes: The Director for Human Resources introduced the report.
RESOLVED - Subject to the agreement, that the Pensions Fund Committee note and approve the terms of the Transfer of LBB employees to Brent Local Government Pensions Scheme (LGPS), consequent on the Shared Registration and Nationality Service TUPE transfer.
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Barnet Pension Fund Triennial Valuation Additional documents: Minutes: The Deputy Chief Operation Officer introduced the report. The Committee further received a presentation from Barnett Waddingham.
RESOLVED -
1. That the deficit position, as identified by the initial triennial valuation results of the London Borough of Barnet Pension Fund as at 31 March 2013 be noted.
2. That the revised minimum employer contribution rates for the next three years be noted, subject to any minor variations as recommended by the Pension Fund Actuaries.
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Barnet Council Pension Fund Performance for Quarter October to December 2013 Additional documents:
Minutes:
The Committee was addressed by representatives of the one of the fund management companies, Schroders Investment Management Limited. The Committee questioned the fund managers on their presentations, their performance for the quarter October 2013 to December 2013 and their plans for the coming months.
RESOLVED - That the Committee note the performance of the Pension Fund for the quarter October 2013 to December 2013.
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Admission of OCS Group UK LTD to the Borough of Barnet Pension Fund Minutes: The Director for Human Resources introduced the report.
RESOLVED - That the Committee approve admission to the Local Government Pension Scheme under Admission Body Status for OCS Group UK LTD, subject to sign off of the Business Transfer Agreement between the Council and that company, the Admission Agreement and a bond being put in a place. |
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Any item(s) that the Chairman decides is urgent Minutes: There were none. |