Teesside Pension Board Minutes

Teesside Pension Board Minutes

Date:
Monday 23 April 2018
Time:
2:00 p.m.
Place:
Oberhausen Room,Town Hall, Middlesbrough
 

Attendance Details

Present:
G Whitehouse, (Chair), J Cook, C Monson
Officers:
J Bromiley, P Campbell, G Hall, S Lightwing, J Shiel
Apologies for absence:
were submitted on behalf of G Clyburn, Councillors N J Walker and B Woodhouse
Declarations of interest:
Name of Member Type of Interest Item/Nature of Interest
 J Cook Non Pecuniary Member of Teesside Pension Fund
C Monson Non Pecuniary Member of Teesside Pension Fund
G Whitehouse Non Pecuniary Member of Teesside Pension Fund
Item Number Item/Resolution
PUBLIC
17/39 MINUTES - TEESSIDE PENSION BOARD - 26 FEBRUARY 2018

The minutes of the meeting of the Teesside Pension Board held on 26 February 2018 were taken as read and approved as a correct record.

17/40 MINUTES - TEESSIDE PENSION FUND COMMITTEE - 21 DECEMBER 2017

A copy of the minutes of the Teesside Pension Fund Committee meeting held on 21 December 2017 were submitted for information.

17/41 TEESSIDE PENSION FUND COMMITTEE - 7 MARCH 2018 - VERBAL UPDATE

The Head of Investments and Treasury Management provided a verbal update on agenda items considered at the Teesside Pension Fund Committee at a meeting held on 7 March 2018.

17/42 PENSION ADMINISTRATION REPORT - OUTLINE

A report of the Strategic Director of Finance, Governance and Support was presented to propose a report format to update the Pension Board Members regarding the administration of the Teesside Pension Fund by Kier Workplace Services. 

 

Part of the remit of the Pension Board was to ensure good governance of the Pension Scheme and this should include ensuring members received good service and appreciated their pension benefits. 

 

To assist the Pension Board it was proposed that the Board should receive a regular report from the provider of pension administration services (Kier) which would provide an overview of the key information regarding member experience.  

 

It was proposed that the Pension Board received a regular report providing an overview of the key administration statistics and issues.  A copy of a proposed draft report was attached at Appendix A to the submitted report for information. 

 

The Head of Pensions explained that the report would be set out under the following headings:

  • Complaints.
  • Service Level Agreement Compliance.
  • Member Data Requirements.
  • Member Satisfaction.

 

In addition, it was suggested that a summary of any Local Government Association (LGA) guidance issued during the reporting period could be included.

 

The Head of Pensions explained that he was awaiting guidance from the Scheme Advisory Board regarding some of the reporting requirements.

AGREED as follows that:
1. The report was received and noted.
2. The reporting requirements, as set out in the proposed draft report attached at Appendix A, were agreed.

17/43 ASSESSMENT AGAINST THE 2017 BOARD ANNUAL REPORT - WORK PROGRAMME (ALL BOARD)

A report of the Strategic Director of Finance, Governance and Support was presented for Pension Board Members to review progress against the work programme as set out in the 2017/2018 Annual Report. 

 

The Teesside Pension Board agreed the Annual Report 2017-2018 at the July 2017 Board meeting.  As part of the Annual Report, a work programme for 2017-2018 was agreed.

  

A copy of the work programme was attached at Appendix A to the submitted report. The Work Programme included activities in relation to training, governance and policies, performance and risk. Board Members reviewed the progress made against each activity and noted those actions that were not yet, or only partially met. 

 

In relation to training, the Head of Investments and Treasury Management suggested that the Pension Regulator should be invited to the next Board meeting to provide training on the work of the Regulator, as well as recent developments and priorities.

AGREED as follows:
1. that the report was received and noted.
2. the Pension Regulator would be invited to the next meeting to provide training.

17/44 EXCLUSION OF PRESS AND PUBLIC

ORDERED that the press and public be excluded from the meeting for the following items on the grounds that, if present, there would be disclosure to them of exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 and that the public interest in maintaining the exemption outweighed the public interest in disclosing the information.

EXEMPT
17/45 POOLING UPDATE (TO BE CIRCULATED AT THE MEETING)

The Head of Investments and Treasury Management provided an update on the latest developments with the Border to Coast Pension Partnership (BCPP).

 

AGREED  that the report was received.

17/46 PENSION CUSTOMER SERVICE STRATEGY - UPDATE

A report of the Strategic Director Finance, Governance and Support was presented to update Pension Board Members regarding the proposed enhancements to the Pensions Administration Services, following the approval to progress given by the Pension Committee at their last meeting on 7 March 2018.

 

AGREED that the report was received and noted.

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