Agenda and draft minutes

Nominations were sought for the position of the Chair, Geoffrey Alderman was nominated and duly elected as the Chair. 

RESOLVED that the minutes of the meeting held on 28 June be agreed as a correct record.

The Chair welcomed Councillor Simon Radford to the meeting who was in attendance as an observer in his capacity at the new Chair of Pension Fund Committee.

Apologies were received from Councillor Humayune Khalick.

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The Board received the report. Board Members had the opportunity to consider the report and ask questions. Board Members were informed, in relation to PB001, that West Yorkshire Pension Fund would undertake a Disaster Recovery/ Business Continuity testing exercise in June and report the outcome to a future meeting. The Board noted that a new risk PB018 that been included as requested and further information would be provided later in the agenda. The Board requested for the risk velocity to be organised from highest to lowest. The Board also agreed to provide input and be consulted in the development of a revised user-friendly risk register.

Having considered the report, the Local Pension Board:

Resolved: That the Local Pension Board note the most recent administration risk register and provide input in the development of a revised risk register.

The Board received the report. Board Members noted the role of the Local Pension Board is to contribute to the governance of the pension scheme by scrutinising the work of the Pension Fund Committee and making recommendations where appropriate. Members noted the importance that the Board has appropriate training opportunities for it to fulfil its duties. Members provided positive feedback on the cost transparency training provided by Adam McPhail, the LBB Pensions Team Finance Manager.

Having considered the report, the Local Pension Board:

Resolved: The Local Pension Board note the training options available and that it agrees to continue to update the LBB Pensions Team monthly on any training undertaken.

The Board received the report. Board Members noted the BDO, Fund’s appointed external auditors for the 2020/21 and 2021/22 financial years, had confirmed that the quality reviews were now complete, and that the Pension Fund’s 2020/21 Annual Accounts were ready to be signed off along with the Council’s accounts. The Board also noted that the Draft 2022/23 Pension Fund accounts were published with the Main Council accounts before the statutory deadline on 31st May 2023. Members requested for the auditors to attend future meetings on advance of the accounts being signed off to answers questions from the Board.

Having considered the report, the Local Pension Board:

Resolved: The Local Pension Board note the update on the 2020/21 audit, and the plan for the 2021/22 audit.

The Board received the report. Members noted the matters that had been discussed by the Pension Fund Committee and the decisions that had been made. The Local Pension Board had the opportunity to consider the report.

Having considered the report, the Local Pension Board:

Resolved: The Local Pension Board note the procedures applied by the Pension Fund Committee when reaching decisions at recent meetings.

Resolved: That the Local Pension Board noted the work programme subject to correction to upcoming dates as follows:

26 September 2023

20 November 2023

11 March 2024

15 July 2024

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