Agenda

The Chair will ask the Committee Administrator to draw attention to the emergency evacuation procedure as set out under Note 5.

At this point in the meeting declarations of interest are received from Members in any of the agenda items under consideration at the meeting. Members are asked to indicate:

(a) The agenda item number in which they have an interest to declare.

(b) The nature of their interest.

(c) Whether their interest is a disclosable pecuniary interest or an other interest, (as defined in Part 4.4 Appendix B of the Code of Conduct and Rules for Registration of Interests)

Any Member who needs to clarify any matters relating to the declaration of interests is recommended to seek advice from the Council’s Monitoring Officeror a member of his staff before the meeting to expedite dealing with the item during the meeting.

The purpose of this report is to present to Committee the 3-year Service Plan and Budget for the period 2023-26. 

The Local Government Pension Scheme (LGPS) Regulations require LGPS funds to have an actuarial valuation every three years. The 2022 valuation has a base date of 31 March 2022 with new employer contribution requirements becoming effective from 1 April 2023. This report examines the outcome of the valuation process for the whole fund and highlights the principal changes which have occurred since the 2019 valuation.

The Committee is asked to approve the Fund’s Treasury Management policy each year. It was last approved in March 2022. The policy closely mirrors the Council’s policy set out in the Councils’ Annual Treasury Management Strategy. The policy proposed for 2023/24 set out in Appendix 1 is the same as the policy approved in March 2022. Counterparties acceptable under the policy and their Credit ratings are shown in Appendix 2.

The purpose of this report is to present the Fund’s service performance for the three months to 31st December 2022 against target service levels. The report also addresses the Fund’s business operational position from an overall risk perspective and provides an update forecast on the Funds cash flow and budget.

The purpose of this report is to update the Pension Committee on the latest position concerning the Local Government Pension Scheme [LGPS] and any proposed regulatory matters that could affect scheme administration. 

The purpose of this report is to update the Committee with the quarterly review of the risk register.

Attached to this report is the work plan for the Committee (Appendix 1) and a separate one for the Investment Panel (Appendix 2) which set out provisional agendas for forthcoming meetings. The dates for future Committee and Panel meetings are also included. The provisional training programme for 2023 is included as Appendix 3.