Agenda and draft minutes

Contact: Tariq Soomauroo 0208-379-1872 Email: tariq.soomauroo@enfield.gov.uk 

Items
No. Item

1.

Apologies

Minutes:

The Chair Paul Bishop (Branch Secretary UNISON) introduced the meeting, explaining this was his first meeting as Chair following Councillor McGowan’s resignation.

 

Apologies were received from Councillor Hayward, Councillor Lemonides, Julie Barker, Robert Ayling and Eileen Carberry

 

The Enfield Fund was successful.

2.

Minutes of last meeting - 20th July 2017 pdf icon PDF 76 KB

Minutes attached from Pension & Investments meeting 20th July 2017.

Minutes:

Minutes of the last meeting – 20th July 2017 was AGREED.

3.

Standing Items

To receive an update from the Chair

3a

Risk Register - update pdf icon PDF 133 KB

(TO FOLLOW)

Minutes:

Risk Register – update

 

Reported: Paul Reddaway the Pension Fund Risk Register – it had been updated for risks around opting-up for MIFID II and the earlier closedown of 2017/18 statement of accounts.

 

Noted: The Fund had successful opted up all with all of the Fund’s managers within the time limit. PR reminded the Board that this would remain on the risk register, as the Fund will continue to demonstrate that the Pension Committee has the capacity to make professional decision. A number of Committee members will be standing down in May. To mitigated this risk a training policy has been agreed  and a change the Committee’s terms of reference is being considered whereby an independent members  could be added to the Committee membership.

An earlier closedown timetable has been agreed, this will involve a greater use of estimation to ensure the earlier closure date is achieved. This has been agreed with the external auditor.

3b

Register of breaches of the law

Minutes:

Register of breaches of the Law – no breaches were reported.

3c

Conflicts of interest register (Declaration of interests)

Minutes:

Conflicts of interest register – no conflicts of interest were reported.

4.

Pension Fund communication Strategy presentation of website

To receive an update from Tim O’connor

Minutes:

Tim O’Connor (Pension Manager) delivered a presentation of the new Microsite.

 

Noted:

 

·         New Microsite launched

·         Cohabiting partners pension form

·         Microsite provides estimates / pre-calculations

·         Microsite also has a conversation tool

·         At present only active members have access to this

·         Delay identified in auto enrolment

·         70% opted out

 

A question was raised as to the need for the Cohabiting Partners Pension Form being included on the website.

 

Tim O’Connor responded advising the NO we do not need it because of ongoing legal appeals, it has been advised that the forms are not necessary to establish a qualification for benefits but we have decided to leave the form on the website as it still gives us the knowledge and point of contact if such a situation arises.

 

5.

Pension Policy & Investment update pdf icon PDF 100 KB

To receive an update from Councillor Simon and Paul Reddaway 

                                                                                                     

Minutes:

Paul Reddaway provided an update on the Pensions team

 

·         The Pension Administration team has been restructured to reflect the increased work loads

·         GMP – This currently being worked on, a progress report will be brought back to the next meeting.

6.

LCIV consultation survey

Councillor Toby Simon and Paul Reddaway to go through reports (Attached)

Additional documents:

Minutes:

Received: A draft response was circulated was included in the meeting papers circulated prior to the meeting

 

Action: It was agreed that an employee representation should be included in the LCIV committee.

7.

Work Plan 2018/19

To receive an update from Paul Reddaway. 

Minutes:

It was agreed to send Pauline Kettless to attend a training seminar on current issues for Pension Board members

8.

Date Of Next Meeting

Minutes:

Quarterly Meetings – Thursday 5th July 2018 at 10.00am