Agenda not available for this meeting.

• 01

  Apologies for Absence

  

  To receive any apologies for absence from any members of the Committee.

   

• 02

  Minutes of the Previous Meeting

  

  To approve the minutes of the meeting held on Tuesday, 17th September 2024 as an accurate record.

  PART A Pension Committee Minutes 17 September 2024

• 03

  Disclosure of Interests

  

  Disclosure of Interests Members and co-opted Members of the Council are reminded that, in accordance with the Members’ Code of Conduct and the statutory provisions of the Localism Act 2011, they are required to consider in advance of each meeting whether they have a disclosable pecuniary interest (DPI), some other registrable interest (ORI) or a non-registrable interest (NRI) in relation to any matter on the agenda. If advice is needed, Members should contact the Monitoring Officer in good time before the meeting. If any Member or co-opted Member of the Council identifies a DPI or ORI which they have not already registered on the Council’s register of interests or which requires updating, they must urgently complete the disclosure form which can be obtained from Democratic Services at any time, copies of which will be available at the meeting for return to the Monitoring Officer.

  Members and co-opted Members are required in general to disclose any relevant DPIs, ORIs or NRIs at the meeting –

  • Where the matter relates to a DPI they may not participate in any discussion or vote on the matter and must not stay in the room unless granted a dispensation.
  • Where the matter directly relates to the financial interest or wellbeing of an ORI they may not vote on the matter unless granted a dispensation.
  • Where a Member or co-opted Member has an NRI which directly relates to or affects their or a relevant person’s financial interest or wellbeing, whether they can participate in any discussion or vote on the matter or stay in the room depends on the detailed rules in paragraphs 7 of Appendix B of the Members’ Code of Conduct.

   

  The Chair will invite Members to make their disclosure of interests orally at the meeting and they will also be recorded in the minutes.

   

• 04

  Urgent Business (if any)

  

  To receive notice of any business not on the agenda which in the opinion of the Chair, by reason of special circumstances, be considered as a matter of urgency.

   

• 05

  Pension Fund Annual Report 2021/22

  

  This report asks the Committee to consider the London Borough of Croydon Pension Fund Annual Report and agree to its publication. The Annual Report for 2021/22 is attached as Appendix A to this report and the pension fund financial statements are attached as Appendix B.

   

  Cover Report

  Appendix A

  Appendix B

• 06

  Pension Fund Annual Report 2022/23

  

  This report asks the Committee to consider the draft London Borough of Croydon Pension Fund Annual Report and agree to its publication. The Annual Report for 2022/23 is attached as Appendix A to this report and the pension fund financial statements are attached as Appendix B.

  Cover Report

  Appendix A

  Appendix B

• 07

  London Borough of Croydon Pension Fund Draft Data Improvement Policy

  

  As part of the Fund’s governance review in 2022, one of the recommendations, which was added to the Governance Review Action Plan in September 2022, was for the Fund to produce a Data Improvement Policy document.

   

  The report presents to the Committee a draft Data Improvement Policy for the London Borough of Croydon Pension Fund attached as Appendix A. It invites their comments and requests their agreement to the Policy.

   

  Cover Report

  Appendix A

• 08

  Croydon Pensions Administration Team Key Performance Indicators for the Period August 2024 to October 2024

  

  The report sets out the Key Performance Indictors, measured against the legal requirements for the administration of the Local Government Pension Scheme for the three-month period up to the end of October 2024.

   

  Cover Report

  Appendix A

• 09

  Review of Risk Register

  

  This report presents the current Risk Register (in Appendix A) for the Pension Fund and highlights any changes made since the last review carried out at the Pension Committee meeting held on 17 September 2024.

   

  Cover Report

  Appendix A

• 10

  Review of Breaches of the Law

  

  This report presents the current Breaches of the Law log (in Appendix A) for the Pension Fund and highlights any changes made since the last review carried out at the Pension Committee meeting held on 17 September 2024.

   

  Cover Report

  Appendix A

• 11

  Governance Best Practice Compliance Statement

  

  This report updates the Governance Best Practice Compliance Statement for consideration by the Committee and advises them that it was reviewed by the Pension Board on 25 July 2024.

   

  Cover Report

  Appendix A

• 12

  Pension Board Annual report 2023/24

  

  This report presents the Pension Board Annual report for 2023/24 as Appendix A, which sets out the work of the Pension Board and their observations of the performance of the Fund over the past year and their plans for the future. The Board agreed the Annual report in their meeting of 25 July 2024.

   

  Cover Report

• 13

  Local Government Pension Scheme Advisory Board/The Pensions Regulator Update

  

  This report advises the Committee of the matters currently being considered by the Local Government Pension Scheme Advisory Board and The Pensions Regulator which are relevant to the Fund. Any implications for the Fund have been noted and are being addressed in consultation with Fund advisers.

   

  Cover Report

• 14

  Mansion House Speech 2024 - Implications for LGPS

  

  On Thursday 14 November the Chancellor presented her Mansion House speech, which set out plans to boost growth of the UK economy. Alongside these announcements, the Government published various documents including a consultation titled ‘Fit for the Future’ on Local Government Pension Scheme (LGPS) reform.

   

  This purpose of this report is to summarise the keys issues to consider raised by the Consultation. The Consultation can be accessed via this link https://www.gov.uk/government/consultations/local-government-pension-scheme-england-and-wales-fit-for-the-future/local-government-pension-scheme-england-and-wales-fit-for-the-future.

   

  It is the intention of Officers to respond to the Consultation which closes on the 16 January 2025.

   

  Cover Report

• 15

  Part A Progress Report for the Quarter Ended 30 September 2024

  

  The report updates Pension Committee on the Fund’s Investments and current Funding position for the quarter to 30 September 2024.

   

  The report provides an update on the Fund’s performance for the quarter to 30 September 2024.  The report falls into four parts.  Section 1 addresses performance against strategic goals.  Section 2 considers the asset allocation strategy and how that is being applied, specifically current and planned investments.  Section 3 deals with risk management and section 4 summarises updates from any recent investment manager meetings.

   

  Cover Report

  Appendix A

• 16

  Exclusion of the Press and Public

  

  The following motion is to be moved and seconded where it is proposed to exclude the press and public from the remainder of a meeting:

   

  “That, under Section 100A(4) of the Local Government Act, 1972, the press and public be excluded from the meeting for the following items of business on the grounds that it involves the likely disclosure of exempt information falling within those paragraphs indicated in Part 1 of Schedule 12A of the Local Government Act 1972, as amended.”

   

• 17

  Part B - Progress Report for Quarter Ended 30 September 2024

  

  The following motion is to be moved and seconded where it is proposed to exclude the press and public from the remainder of a meeting:

   

  “That, under Section 100A(4) of the Local Government Act, 1972, the press and public be excluded from the meeting for the following items of business on the grounds that it involves the likely disclosure of exempt information falling within those paragraphs indicated in Part 1 of Schedule 12A of the Local Government Act 1972, as amended.”

  Cover Report

  Appendix A

  Appendix B

  Appendix C

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• 

  PART A Pension Committee Minutes 17 September 2024

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  Pension Committee Action Log 2024-25

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  PC Action Log 2024-25

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