Issue - meetings

The Committee had before it a report by the Chief Officer – Finance which provided various updates and recommendations (if applicable) to changes to the North East Scotland Pension Fund.

The report provided an update on the Pension Fund Annual Benefit Statements; amendments to the Local Government Pension Scheme (Scotland) Regulations 2018; an update on the Pension Board, its annual report and details of the newly appointed Chair (Alan Walker) and Vice Chair (Councillor Gordon); and updates in relation to Mental Health Aberdeen and Robert Gordon’s College exiting the Scheme.

The report advised that the following documents had also been updated as follows:-

·       Appointment of Advisers (minor amendments to remove reference to Head of Commercial and Procurement, update to officers with access to Amelior, minor corrections to improve clarity)

·       Governance Compliance Statement (minor corrections for typo’s and grammar, amended Terms of Reference review date)

The report recommended:-

that the Committee –

(a)      approve the updates to the Fund policy documents as set out in 6.2 of the main report; and

(b)      note the remainder of the report for reassurance.

The Committee resolved:-

(i)       in relation to the impact of the amendments to the Local Government Pension Scheme, to note that officers would share a copy of the submission with Members;

(ii)       to note that officers could discuss with authorities such as the Scottish Public Pensions Agency and Central Government any potential changes to regulations which would be helpful to the Scheme, noting for example that it could be a more expensive scheme for employers to participate in; and

(iii)      to approve the recommendations.