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• 01

  Apologies for Absence

  

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

   

• 02

  Minutes of the Previous Meeting

  

  To approve the minutes of the meeting held on Thursday, 12 January 2023 as an accurate record.

   

  Printed minutes 12012023 1400 Pension Board

• 03

  Disclosure of Interests

  

  Members are invited to declare any disclosable pecuniary interests (DPIs) and interests they may have in relation to any item(s) of business on today’s agenda.

• 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

  Update from Pension Committee

  

  Verbal update from the Acting Head of Pensions and Treasury.

• 06

  Pensions Administration Report Review

  

  This report sets out Key Performance Indicators for the administration of the Local Government Pension Scheme for the three-month period up to the end of February 2023.

   

  Report 1 Pensions Administration Service Report March 2023

  Report 1 Appendix A Pensions Admin Team Performance Report March 2023

• 07

  Pension Fund Medium Term Business Plan Review

  

  This report presents to the Board a draft Business Plan for the Fund for financial years 2023/24 to 2025/26 attached as Appendix A. It invites their comments and requests their agreement to the Plan.

  Report 2 Business Plan covering report

  Report 2 Appendix A Medium Term Business Plan

• 08

  Scheme Advisory Board (SAB) Good Governance Review

  

  This report details the requirements of the SAB Good Governance Review and the Fund’s progress in implementing the recommendations.

  Report 3 SAB Good Governance Review Progress Update March 23 Board

  Report 3 Appendix A Hymans Robertson Good Governance Report to SAB - Phase 3

• 09

  Risk Management Policy Review

  

  This report updates the Board on the review of the Fund’s Risk Management Policy and invites their comments.

  Report 4 Risk Management Policy covering report

  Report 4 Appendix A LBC Pension Fund Risk Management Policy

• 10

  Review of Risk Register

  

  It is recommended best practice for the Pension Board to maintain a risk register covering the most significant risks faced by the Fund. This report presents the current register (Appendix A) for the Board’s consideration.  

  Report 5 Review of Risk Register March 23

  Report 5 Appendix A Risk Register March 23 Board

• 11

  Breaches of the Law Log

  

  It is consistent with The Pension Regulator’s Code of Practice that the Pension Fund maintains a breaches log detailing incidences where breaches have occurred. In line with the recommendations of the Aon Hewitt Governance Review, on 15 September 2020 the Committee agreed the revised Reporting Breaches of the Law Policy. This included a requirement for the Board to monitor breaches on a regular basis. This report presents the current log (Appendix A) for the Board’s consideration and comment. 

  Report 6 Breaches of the Law Report March 23 Board

  Report 6 Appendix A Breaches Log

• 12

  Board Training Update

  

  This report advises the Board of training undertaken by the Pension Board members in Year 2022/23 to 28 February 2023 and asks them note the contents of the Logs attached to this report as Appendix A and Appendix B. 

   

  The report shows details of the LGPS National Knowledge Assessment 2022 attached as Appendix C and Appendix D to this report

  Report 7 Review of Pension Board Member Training March 23

  Report 7 Appendix A Pension Board Training Completed to 28 February 2023

  Report 7 Appendix B Hymans On line training update log March 23 Board AF

  Report 7 Appendix C 2022_LGPS_National_Knowledge_Assessment

  Report 7 Appendix D 2022 LGPS Knowledge Assessment LBC

• 13

  Updates from Scheme Advisory Board and The Pensions Regulator

  

  This report advises the Board 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.

  Report 8 SAB and TPR update as at 9 March 2023

• 14

  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.”

   

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• 

  Printed minutes 12012023 1400 Pension Board

• 

  Report 1 Pensions Administration Service Report March 2023

• 

  Report 1 Appendix A Pensions Admin Team Performance Report March 2023

• 

  Report 2 Business Plan covering report

• 

  Report 2 Appendix A Medium Term Business Plan

• 

  Report 3 SAB Good Governance Review Progress Update March 23 Board

• 

  Report 3 Appendix A Hymans Robertson Good Governance Report to SAB - Phase 3

• 

  Report 4 Risk Management Policy covering report

• 

  Report 4 Appendix A LBC Pension Fund Risk Management Policy

• 

  Report 5 Review of Risk Register March 23

• 

  Report 5 Appendix A Risk Register March 23 Board

• 

  Report 6 Breaches of the Law Report March 23 Board

• 

  Report 6 Appendix A Breaches Log

• 

  Report 7 Review of Pension Board Member Training March 23

• 

  Report 7 Appendix A Pension Board Training Completed to 28 February 2023

• 

  Report 7 Appendix B Hymans On line training update log March 23 Board AF

• 

  Report 7 Appendix C 2022_LGPS_National_Knowledge_Assessment

• 

  Report 7 Appendix D 2022 LGPS Knowledge Assessment LBC

• 

  Report 8 SAB and TPR update as at 9 March 2023

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