Issue - meetings

The Committee had before it a report by the Chief Officer – Finance which presented the Audited Annual Report and Accounts for the North East Scotland Pension Fund (NESPF) for consideration and signing.

Members heard from Mr Belford in respect of the report, who also noted his thanks to the team, particularly Mr Scroggie, for their work in preparing the accounts.

The report recommended:-

that the Committee –

(a)      consider and approve the Audited Annual Report and Accounts for the North East Scotland Pension Fund; and

(b)      instruct the Chief Officer – Finance, as the Local Government (Scotland) Act 1973 – Section 95 Officer, to sign the accounts on behalf of the Fund.

The Committee resolved:-

(i)       to note that the Chief Officer – Finance had advised that information could be included in future budget monitoring reports in relation to the medium to long term vision, for example in relation to climate work;

(ii)       to note that Ms Colliss had advised that officers could provide information on administrative costs per member, benchmarked against other Pension Funds;

(iii)      in relation to the queries on the Local Authority Pension Fund Forum (LAPFF) engagement with Governments on climate and the more detailed points raised around engagement with Drax, to note that Mr Buntain would look into this further in respect of an analysis of the company/shareholder structure and any ‘notable oppose’ votes and revert to Councillor van Sweeden outwith the meeting; and

(iv)      to approve the recommendations.