Issue - meetings

The Committee had before it a report by the Director of Resources which provided an update and recommendations (if applicable) on changes to the North East Scotland Pension Fund.

The report provided an update on the McCloud Local Government Pension Scheme (LGPS) Remedy Regulations which were expected in October 2023; the Superannuation Contributions Adjusted for Past Experience (SCAPE) discount rate; notification of 32 breaches of law recorded in the NESPF breaches register during 2022/23, the majority of which had been scheme employers failing to meet their statutory obligations e.g., late payment of pensions contributions; and information on two further participating employers who had exited the Fund over the last quarter.

It was further noted that the following documents had been updated:-

·       Training Policy (Clarification on training expectations)

·       Governance Policy (Update to Delegated Powers Appendix)

·       Overpayment of Pension Policy (Minor grammatical amendments)

·       Risk Management Policy (Development of section on Risk Appetite as per audit recommendations)

·       Myners Principles (Minor design and grammatical amendments)

·       Appointment Process for Local Pension Board (Minor design and grammatical amendments)

·       Data Protection Policy (Minor grammatical amendments)

·       Communications Policy (Minor procedural updates)

·       Systems Access Policy (Minor edit to password requirements)

The report recommended:-

that the Committee note the contents of the report for assurance.

The Committee resolved:-

to note the report.