Agenda item

Members are invited to pass the following resolution before discussing Appendix 7 and its two annexes:

“Having been satisfied that the public interest would be better served by not disclosing relevant information, the Committee resolves, in accordance with the provisions of Section 100(A)(4) of the Local Government Act 1972, that the public be excluded from the meeting for this item because of the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Act as amended.”

The Finance and Systems Manager (Pensions) summarised the budget report. The forecast variance for the year was £127,000 under budget. Investment managers’ fees were now on budget.

The Pensions Manager summarised the performance report. He said opt-outs remained very low at only 0.14% over an 8-month period.

Before discussing Appendix 7 the Committee passed the following resolution:

Having been satisfied that the public interest would be better served by not disclosing relevant information, the Committee resolves, in accordance with the provisions of Section 100(A)(4) of the Local Government Act 1972, that the public be excluded from the meeting for this item because of the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Act as amended.

After discussing this item, the Committee returned to open session.

A Member noted that there appeared to have dissatisfaction with the venue of one of the two pensions clinics. The Pensions Manager explained that the venues were provided by the employers. The Chair noted that the satisfaction results for two clinics had been combined into a single table, and asked that if there had been particular dissatisfaction with one of the venues, feedback should be given to the relevant employer.

RESOLVED to note the expenditure for administration and management expenses incurred for the 10 months and performance indicators and customer satisfaction feedback for the 3 months to 31 January 2012 and the Stewardship Report on performance.