Issue - meetings

With reference to article 8 of the minute of its previous meeting, the Committee had before it a report by the Director of Resources which provided an update on any changes to the North East Scotland Pension Fund and the Aberdeen City Council Transport Fund strategies.

The report provided an update on the consultation responses from employers and employee bodies on the Local Government Pension Scheme (LGPS) Advisory Board (Scotland) Structural Review; revised Government Actuary’s Department factors; new guidance for UK administering authorities entitled ‘Administration in the LGPS’; 33 breaches of law which had been recorded during 2018/19, none of which were deemed to be of material significance as they mainly related to Scheme employers failing to meet their statutory obligations, for example, late payment of pension contributions; information on Pension Fund staff training in 2018/19; and the annual financial forum held by the Fund on 24 April 2019 in Aberdeen.

Appended to the report was the Pension Administration Strategy Quarterly Update for March 2019; the Pension Board Annual Report and the Risk Register for May 2019.

The report recommended:-

that Committee review and approve the updates to the Scheme Policy documents as outlined at 3.9.2 in the report, namely:-

·         Investment Policy

·         Statement of Investment Principles

·         Data Protection Policy

·         Governance Policy

·         Communication Policy

·         Reporting Breaches of Law

·         Record Keeping Policy

·         Training Policy

·         Compliance with the Myners Principles

The Committee resolved:-

to approve the recommendation.

The Board resolved:-

to note the decision of the Committee.