Agenda and minutes

Pensions Committee - Friday 21st October 2016 10:00am

Venue: Oak Room, County Buildings, Stafford

Contact: Mike Bradbury  Email: michael.bradbury@staffordshire.gov.uk

Items
No. Item

21.

Declarations of Interest

Minutes:

The following Member declared an interest in accordance with Standing Order 16.5:-

 

Member

Minute Nos.

Interest

Reason

Alan Dudson

All

Personal

Membership of the UNITE and GMB Trades Unions’ Pensions Committee

 

22.

Minutes of the meeting held on 15 July 2016 pdf icon PDF 151 KB

Minutes:

RESOLVED – That the minutes of the meeting of the Pensions Committee held on 15 July 2016 be confirmed and signed by the Chairman

23.

Minutes of the Pensions Panel held on 19 July and 8 September 2016 pdf icon PDF 128 KB

Additional documents:

Minutes:

RESOLVED – That the minutes of the meetings of the Pensions Panel held on 19 July and 8 September 2016 be noted.

24.

Pension Fund Annual Report and Accounts 2015/16 pdf icon PDF 195 KB

Report of the Director of Finance and Resources

Additional documents:

Minutes:

The Committee were informed that under regulations, the Pension Fund had to publish an annual report which included the accounts. The external auditors were also obliged to issue a statement on the accounts.

 

The Director of Finance and Resources submitted the draft Annual Report and Accounts 2015/16 for the Staffordshire Pension Fund, explaining the need for formal approval of its contents by members prior to its publication.

 

The Director summarised the Fund’s Annual Report and Accounts and made particular reference to the inclusion in the document of the independent auditors report on the accounts which stated that they were consistent with those included within Staffordshire County Council’s Statement of Accounts for the year ended 31 March 2016.

 

RESOLVED – (a) That the 2015/2016 Pension Fund Annual Report and Accounts (Appendix 1 to the report) be approved and that the draft external auditor’s statement on page 76 be noted.

 

(b) That the separate report from the external auditors entitled; Staffordshire Pension Fund – Audit Results Report – ISA (UK and Ireland) 260 for the year ended 31 March 2016 (Appendix 2 to the report), be noted.

25.

Exclusion of the Public

The Chairman to move:

 

‘That the public be excluded from the meeting for the following items of business which involve the likely disclosure of exempt information as defined in the paragraph of Part 1 of schedule 12A of the Local Government Act 1972 indicated below’

Minutes:

RESOLVED - That the public be excluded from the meeting for the following items of business which involve the likely disclosure of exempt information as defined in the paragraphs of Part 1 of Schedule 12A of the Local Government Act 1972 indicated below

 

The Committee then proceeded to consider reports on the following issues:

26.

Exempt minutes of the meeting held on 15 July 2016 (Exemption Paragraph 3)

(Exemption paragraph 3)

27.

Exempt minutes of the Pensions Panel held on 19 July and 8 September 2016 (Exemption Paragraph 3)

(Exemption paragraph 3)

28.

Funding Strategy Statement and Valuation 2016 (Exemption Paragraph 3)

(Exemption paragraph 3)

 

Overview Report of the Director of Finance and Resources

29.

Funding Strategy Statement/Valuation (Exemption Paragraph 3)

Documents enclosed:

 

a)    Draft Valuation Report

b)    Draft Funding Strategy Statement

c)    Employer Specific Considerations

d)    How Staffordshire Fund’s valuation results compare to the rest of the LGPS?

 

Presentation by Hymans Robertson, Actuary

30.

Admitted Bodies (Exemption Paragraph 3)

(Exemption paragraph 3)

 

Report of the Director of Finance and Resources

31.

Pooling of LGPS Investments (Exemption Paragraph 3)

(Exemption paragraph 3)

 

Oral update by the Director of Finance and Resources