Agenda and draft minutes

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

Link: Click here for the meeting

Items
No. Item

1.

Minutes of last meeting pdf icon PDF 350 KB

Minutes:

RESOLVED that the minutes of the meeting held on 03 February 2022 be agreed as a correct record.

 

2.

Disclosable Pecuniary interests and Non Pecuniary interests

Minutes:

None

3.

Absence of Members

Minutes:

An apology for absence was received by Councillor Thomas Smith.

 

4.

Public Question and Comments (if any)

Minutes:

None.

5.

Report of the Monitoring Officer (if any)

Minutes:

6.

Members' Items (if any)

Minutes:

None.

7.

Administration Performance Report pdf icon PDF 424 KB

Additional documents:

Minutes:

Mr Mark Fox, Pensions Manager introduced the report. He gave an overview to the Board on the West Yorkshire Pension Fund pensions administration performance report for February 2022. He provided an update on the completion of the 2021 Annual Benefit Statements, administration issues and a Finance update.

 

During the consideration of the item Mr Hem Savla made comments in regard Fremantle as highlighted in the report.  His points were responded to verbally by Mr Fox.   He added that he would contact Mr Savla in regards to the data.      Mr Savla noted the West Yorkshire Member dashboard was a much-improved platform to previous one operated by Capita.  Mr Savla continued to question how this may be integrated and improved in the future, Mr Fox responded verbally to this point in regard to the testing on the dashboard.

 

Mr Ross said that he was concerned about the weak HR capacity as documented in the report he therefore questioned the associated risk to this and suggested that this matter was in fact avoidable.  Mr Fox agreed it was a concern for Officers, he added that a number of staff had taken leave at West Yorkshire during this period as staff needed to use up their annual leave.   Mr Fox said that his matter would be monitored and furthermore he would report this point back to West Yorkshire.   Mr Ross requested that this concern be minuted. 

 

Mr Rida requested to know how the documented ombudsman complaint had been managed and if the Pension Regulator was satisfied with the outcome of this.   Mr Fox described the processes applied and noted how such matters are handled.  Mr Fox said that he would review the matter and provide a further update within the next report.

 

 

Having considered the report the Local Pension Board:

 

 

Resolved:

That the Local Pension Board noted the West Yorkshire Pension Fund’s performance levels along with the updates on the 2021 Annual Benefit Statements, administration issues and the Finance update.

 

8.

LPB External audit pdf icon PDF 665 KB

Additional documents:

Minutes:

The BDO representative, Mr Michael Bediako joined the meeting and provided an update to the Committee on the progress of the audit.  He said that work was being concluded and therefore a final report would be submitted to a future meeting.   The Chairman thanked Mr Michael Bediako for his update.

 

 

The Committee had the opportunity to consider the report.

 

Resolved:

That the Local Pension Board noted the report

9.

Decisions made by the Pension Fund Committee pdf icon PDF 355 KB

Minutes:

The Head of Finance for Pensions, Mr Bruce, introduced the report. Mr Bruce noted the matters that had been discussed by the Pension Fund Committee and the decisions that had been made. He informed Members that the External Auditors had attended this meeting but had not as yet concluded the audit. .

 

The Local Pension Board had the opportunity to consider the report. 

 

Resolved:

That the Local Pension Board noted the report.

That the Local Pension Board noted the procedures applied by the Pension Fund Committee when reaching decisions at recent meetings.

 

10.

Data Improvement Plan and Historical Leavers pdf icon PDF 429 KB

Minutes:

Mr Mark Fox, Pensions Manager introduced the report. He provided the Local Pension Board with an update on the data improvement plan and historical leaver exercise, together with details of the data preparations for the 2022 triennial valuation. Mr Fox noted the priority of West Yorkshire to correct and update  the data, he also noted the deadlines of leaver forms and the processes that supported this procedure.

 

Ms Alice Leach questioned when this project would be completed and asked how this work fed into the KPIs.   Mr Fox said that he hoped that by the end of the year this work should be either be fully completed or the data issues significantly reduced.

 

Mr Woodcock said that in respect to leaver data this item was in respect to historic leavers.  He said that the position had improved significantly thanks to employers.  He added that the significant point is to avoid the same issues (due to the mismanagement of the data by the previous administrator) occurring in the future..

 

Mr Sava requested that an update be presented at each meeting so that Members could understand what progress was being made.   He said that all employers should be more engaged and therefore submit data within the deadlines so that all annual benefit statements were received.   

 

The Chairman noted that a failure of the submission of data from the previous administrator could result in potential fines to the Council. Mr Fox agreed with this statement and confirmed that it would be a fine from the Pension Fund to the Council due to failure to submit data.   It was noted that such failings would be reported to the Pensions Regulator.

 

Having considered the report:

 

Resolved:

The Local Pension Board noted the progress on the correcting of member data and the historical leaver exercise.

 

11.

Pensions Scheme Risk Register pdf icon PDF 493 KB

Additional documents:

Minutes:

Mr Mark Fox, Pensions Manager, introduced the report. He highlighted the contents and requested Board Members give consideration to the report.

 

Mr Rida noted again his concerns on staffing resources in terms of delivering the HR functions do to staff absences and vacancies.   Mr Fox said that this was being monitored and he confirmed that he would report this concern to West Yorkshire.  

 

Mr Rida noted changes to the state pension age, he therefore questioned if this matter be contained in the risk register.   Mr Fox said that this is something that should be monitored, he added that any such changes may take many years to be implemented. 

 

 

Having considered the report:

 

Resolved:

That the Local Pension Board noted the risk register.

 

12.

Training Policy pdf icon PDF 319 KB

Additional documents:

Minutes:

Mr Mark Fox, Pensions Manager, introduced the report.   He outlined that the report provided the Local Penson Board with the Training Policy for Board members.   He requested that Members consider the report and appendix A and welcomed comments and feedback on topics on which the Board may wish to receive.  Mr Fox said that no substantial changes have taken place since this item was last reviewed and he noted that this item will be presented at its next review period in 2 years’ time.    

 

Having considered the report,

 

Resolved:

That the Local Pension Board noted the risk register.

 

13.

Work programme pdf icon PDF 225 KB

Minutes:

The attending Governance Officer introduced the work programme.   He noted that this was the last meeting in the municipal year and he added that the next meeting will take place at the Hendon Town Hall with training taking place before the meeting.   He noted that the Pension Fund Committee Membership will also be invited to the training.  He also noted that Committee membership will be agreed at Annual Council on 24 May 2022.  

 

Resolved:

 

That the Work Programme be noted.

 

14.

Any other item(s) the Chairman decides are urgent

Minutes:

None.