Issue - meetings

To receive an update from Bola Tobun.

The committee received this report which reviews the business plan for the Pension fund and presents the budget for the Pension fund for 2020/ 21 along with the outturn for 2019/20.

The Pensions and Treasury Finance Manager highlighted the budget set for next year and the business plan including more workshops to be held on ESG issues. She said the AGM will need to be scheduled in for the end of the year.

Councillor Taylor drew attention to the Business Plan, he understands London CIV have provided local authorities with a schedule of costs and charges which would be useful for members to see, he said some areas were contentious regarding implicit charges. Useful to see how charges calculated. The Pensions and Treasury Finance Manager would arrange for this to be provided.

It had previously been requested that an additional two meetings of the committee be held during the year to allow for shorter meetings. The Pensions and Treasury Finance Manager would discuss this with the Governance team.

Councillor Leaver highlighted

·         The need to reforecast our accounts and provide an update for the November/ December meeting.  We may need to look at liquidity issues at this time.

·         It was necessary to ensure the training opportunities, for example in relation to ESG issues, go ahead. 

·         Work is needed with the Pension Board to ensure that an AGM goes ahead preferably in November/ December to engage with pension fund members.

AGREED

1.    Noted and approved the Business Plan attached as Appendix 1 of the report

2.    Noted and approved the revised work plan for 2020/21 attached as Appendix 2 and

3.    Noted and approved the Revenue Budget for 2020/21 attached as Appendix 3

4.    London CIV schedule of costs and charges to be made available to members