Agenda item

This report is to remind members of the roles and responsibilities of members, advisors and officers of the Avon Pension Fund and the governance framework for the Fund as a whole.

The Governance and Risk Advisor introduced the report to the Committee. She explained that they were seeking an amendment to the Terms of Reference (ToR) for the Committee with regard to its quorum.

She stated that the ToR currently reads ‘The quorum of the Committee shall be 5 voting members who shall include at least one member from Bath & North East Somerset Council’.

She said that the proposed amendment was as follows ‘The quorum of the Committee shall be 5 voting members who shall include at least one member not from Bath & North East Somerset Council’.

She added that this is to ensure that any decision taken is not just by B&NES members. She informed the Committee that the revised ToR will be put forward for approval by Council in July.

She stated that all members of the Committee are encouraged to undertake training to ensure they can discharge their responsibilities and that the SAB’s Good Governance Review and The Pensions Regulator’s (TPR) Code of Practice for public sector pension funds requires greater disclosure of member training and requires all members to attain a satisfactory level of knowledge in order to discharge their duties. She added that as a result all Committee members are required to undergo Hyman’s LGPS Online Learning Academy modules within a year of when they are appointed to the Committee and every three years thereafter.

The Committee RESOLVED to:

i)  Note the roles and responsibilities of the members, advisors and officers.

ii)  Approve the Terms of Reference of the Committee and Investment Panel.

iii)  Approve the Scheme of Delegation.

iv)  Approve the Governance Compliance Statement, including draft Representation Policy.

v)  Note the amendment to the Training Policy.

vi)  Note the Decision Making Matrix.

vii)  Agree the independent member representation of the Brunel Working Group.

viii)  Agree the substitute of Brunel Oversight Board.

ix)  Agree the member(s) to represent the fund on the Local Authority Pension Fund Forum.

x)  Agree to delegate the drafting of the Annual Report to Council to Officers and the Chair (subject to informal consultation with Committee members prior to the Chair approving the report).