Issue - meetings

The Committee had before it a report by the Director of Resources which provided updates for the Committee and recommendations (if applicable) to any changes required to the North East Scotland Pension Fund and the Aberdeen City Council Transport Fund.

The report provided an update on the award of the investment management consultancy services contract to ISIO, the current provider; an update on the Scottish Government decision that underpin protection would apply to all LGPS members who met the revised qualifying criteria, noting that further information would follow in the published response to the consultation; a further update on the issuing of pension fund annual benefit statements; notification of the change to the Chair and Vice Chair of the Pension Board following the recent annual meeting; publication of documentation relating to the CIPFA Knowledge and Skills Framework in the trustee area of the website; and the year end processing of scheme employer data.

It was further noted that there had been minor amendments to the following documents which could be viewed on the NESPF website:-

·       Communications Policy

·       Investment Policy

·       Corporate Governance & SRI Policy

·       Employer Engagement Policy

·       Record Keeping Policy

·       Reporting Breaches of Law

·       Data Protection Policy

There was some discussion around the training statistics included in the Pension Board annual report, and the Pension Fund Manager reiterated that officers would consider the comments made in respect of how additional training and qualifications could possibly be recorded in future reports.

The report recommended:-

that the Committee note the work undertaken to review and update the scheme policy documents to ensure continuing compliance with LGPS regulations (as per item 3.9.3).

The Committee resolved:-

to approve the recommendation.

The Board resolved:-

to note the decision of the Committee.