Issue - meetings

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 Scottish Public Pensions Agency (SPPA) Consultation which sought views on changes to the Local Government Pension Scheme (LGPS) in Scotland in respect of the LGPS statutory underpin protection to remove unlawful discrimination found by the Courts in relation to public service pension scheme ‘transitional protection’ arrangements;  the request from Visit Scotland to consolidate its liabilities with the application for a SPPA direction to transfer assets and liabilities to Lothian Pension Fund; the position in relation to Pension Fund Annual Benefit Statements; information on  27 new breaches of law recorded in the NESPF Breaches Register during 19/20, the majority of which had been scheme employers failing to meet their statutory obligations e.g. late payment of pension contributions; the latest position in respect of staff training; that the Pension Board had approved its annual report and agreed that Councillor McKelvie would act as Chair for the year with Mr Neil Stirling as Vice Chair; the latest information on Pensions Committee and Board training; the employer relationship year end process; the data quality improvement plan; and information on the triennial valuation due in March 2021.

The report also noted that the following policy documents had been updated:-

·       Statement of Investment Principles

·       Breaches of Law Policy

·       Conflicts of Interest Policy

·       Communications Policy

·       Corporate Governance & SRI Policy

·       Data Protection Policy

·       Employer Engagement Policy

·       Nomination and Appointment Process

·       Record Keeping Policy

The report recommended:-

that Committee note the work undertaken to review and update the scheme policy documents to ensure continuing compliance with LGPS regulations (as per item 3.9.7 in the report)

The Committee resolved:-

to note the report.

The Board resolved:-

to note the decision of the Committee.