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.

The report provided an update on the results of the first cost cap valuation for the LGPS (Scotland); the draft Pensions Dashboards Regulations and the requirement for Pension Schemes to meet the required standards (connection, security and technical) and to be able to respond to final requests, complete matching and provide administrative and signpost data on request; details of the progress with issuing pension fund annual benefits statements; and a copy of the Pension Board annual report for 2021/2022.

It was further noted that there had been minor amendments to the following documents which could be viewed in the secure trustee area of the NESPF website:-

·       Data Protection Policy (minor updates for clarity)

·       Corporate Governance and Corporate Social Responsibility Policy (minor updates e.g. fund asset amount)

·       Employer Engagement Policy (removal of temporary paragraphs relating to Covid-19 restrictions)

·       Communication Policy (removal of temporary paragraphs relating to Covid-19 restrictions)

·       Statement of Investment Principles (minor update to fund managers section)

·       Governance Compliance Statement (updated to reflect changes in Committee structure from May 2022)

The report recommended:-

that the Committee note the work undertaken to review and update the scheme policy documents, as set out in section 6.4 of the main report, to ensure continuing compliance with the Local Government Pension Scheme Regulations.

The Committee resolved:-

to note the report.