Agenda and draft minutes

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

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

Items
No. Item

1.

Minutes of last meeting pdf icon PDF 261 KB

    Minutes:

    Resolved: That the minutes of the meeting that took place on 17 November 2020, be approved.

     

2.

Disclosable Pecuniary interests and Non Pecuniary interests

    Minutes:

    None.

3.

Absence of Members

    Minutes:

    An absence of attendance was received form Mrs Rebecca Doctors.  

     

4.

Public Question and Comments (if any)

    Minutes:

    None.

5.

Report of the Monitoring Officer (if any)

    Minutes:

    None.

6.

Members' Items (if any)

    Minutes:

    None.

7.

Compliance with TPR Code of practice 14 pdf icon PDF 567 KB

    Additional documents:

    Minutes:

    The Head of Finance for Pensions, Mr Bruce introduced the report. He provided an overview of the report and requested that Members review the compliance TPR code of Practice.

     

    Mr Rida noted that all training records should be listed in future reports.

     

    The Chairman noted and stressed the importance of Members of the Local Pension Board completing all required training modules and in particular the pensions regulator tool kit.

     

    Having considered the report, the Local Pension Board:

     

     

    Resolved:

    That the Local Pension Board noted the Review of Compliance with TPR Code of Practice 14.

     

8.

Internal Audit pdf icon PDF 475 KB

    Additional documents:

    Minutes:

    The Head of Finance for Pensions, Mr Bruce introduced the report.  He noted that Barnet’s Internal Audit had undertaken a review of the planning for the transition of administration services to West Yorkshire Pension.

     

    The Local Pensions Board Members had the opportunity to consider the report and ask questions.

     

     

    Resolved:

    That the Local Pension Board noted the Internal Audit report.

     

9.

Performance Report pdf icon PDF 325 KB

    Additional documents:

    Minutes:

    Members received the report and noted that it provided the Local Pension Board with the West Yorkshire Pension Fund pensions administration performance report relating to December 2020, along with an update on the Annual Benefit Statements issues and remediation plan.

     

    The Chairman welcomed Officers from West Yorkshire Pension Fund.    Mr Yunus Gajra and Mrs Kate Newton provided a verbal presentation.   In doing so it was noted that although a lot of work had been delivered the quality of the data still gave cause for concern.

     

    During the consideration of the report Mr Savla had a range of questions that were responded to by Officers.   He requested that the Board be sent the correspondence that had been sent to The Pensions Regulator regarding the Annual Benefit Statement issues.

     

    Mrs Leach requested to know if there are financial penalties for Capita as they had manifestly failed to meet their contractual arrangements.  Mr Keogh provided a verbal response and stated that he would consult with the Council’s Commercial Team.

     

    Mr Rida wanted to know if AB statements would be reissued to Members.  He also requested to know what work was being performed in order to get the data to a better standard, therefore he questioned if West Yorkshire were sufficiently well resourced.    Mr Gajra said that WY were in the process of conducted a recruitment process, to complement the team that were working hard on the data.

     

    The Chairman said that he was surprised but not shocked at the state of affairs that had been revealed in relation to the previous administrator.

     

     Having considered the report the Local Pensions Board:

     

    Resolved

     

    The Local Pension Board noted West Yorkshire Pension Fund’s performance levels, along with the update on Annual Benefit Statement issues and the actions being taken to correct the outstanding issues from the Capita remediation plan.

     

10.

Pensions Combined Risk Register pdf icon PDF 496 KB

11.

Local Pension Board - Annual Report pdf icon PDF 448 KB

    Additional documents:

    Minutes:

    Mr Paul Frost from the Governance Service introduced the report.    The Local Pensions Board was requested to note the contents of the report and its recommendations.

     

     

     Resolved:

     

    1. That the Local Pension Board noted the report

    2. That the Local Pension Board noted Terms of Reference as highlighted within Appendix A

    3. That the Local Pension Board noted and comment on the annual work plan attached at Appendix B.

    4. That the Local Pension Board noted that this report be submitted to the next possible meeting of the Pension Fund Committee and Full Council.

     

     

12.

Local Pensions Board Work Programme_ January 2021 pdf icon PDF 234 KB

    Minutes:

    Resolved

    That the Local Pensions Board noted the work programme.

13.

Any other item(s) the Chairman decides are urgent

    Minutes:

    None.