To receive apologies for absence.

Apologies were received from Helen Woodvine.

Members are reminded that they should declare any interests which may lead to conflicts of interest in the subject area or any specific agenda item of this meeting.  A conflict of interest is defined as a financial or other interest which is likely to prejudice a person’s exercise of functions as a member of the Pension Board. It does not include a financial or other interest arising merely by virtue of that person being a member of the LGPS.

No conflicts of interest were declared.

The Minutes of the meeting held on 23 July 2021 are attached for confirmation.

Contact:  Michelle Dulson (01743) 257719

Paragraph 19 - Pensions Board Peer Review

The Chairman hoped to provide an update on the Board’s Peer Review at the next meeting.

RESOLVED:

That the Minutes of the meeting held on 23 July 2021 be approved and signed by the Chairman as a correct record.

To receive any questions from the public, notice of which has been given in accordance with Procedure Rule 14.  The deadline for this meeting is 10.00am on Wednesday 13 October 2021.

A question had been submitted by Ms Joanna Blackman, in relation to a webinar on the case for pensions divestment from fossil fuel companies.  The Head of Treasury and Pensions read out the question and the response. 

A question had been submitted by Mr Martin Oddsocks, in relation to the Board’s progress in reducing the risk of climate change.  The Head of Treasury and Pensions read out the question and the response. 

A copy of the questions and responses provided are attached to the signed Minutes and available on this Committee’s pages on the Council’s web site.

Report attached.

Contact: Debbie Sharp (01743) 252192

The Board received the report of the Pensions Administration Manager – copy attached to the signed Minutes – which provided Members with the latest administration and regulatory updates affecting the Local Government Pensions Scheme.

      The Pensions Administration Manager drew attention to the following:

·         Helen Woodvine from Coverage Care had been appointed to the vacant Employer Representative post.

·         The Employers meeting had been scheduled for 22 November 2021.  The Agenda items for the meeting were noted in paragraph 6.1 of the report.  The Pensions Administration Manager confirmed that they would be publicising the Annual Report but that the Annual meeting would not be a live event this year.

·         The Pensions Team were looking at signing up to the Scams pledge through the Pensions Regulator to ensure that everything possible was being done to ensure the members do not transfer their benefits to an unregulated scheme without understanding all of the consequences.

·         The LGPS Guide for Pension Board members, Committee members and Officers had been circulated.  The Pensions Administration Manager explained that it was a working document at the moment and any comments back would be welcomed.

·         It was confirmed that the Annual Benefit Statements had all gone out on time apart from seven that could not be put live for which the members had been written to.

·         In relation to the McCloud update (Paragraph 10 of the report) the Pensions Administration Manager reported that the Public Service and Judicial Offices Bill had gone through parliament and that guidance had been issued.

·         The Pensions Administration Manager gave an update in relation to the Pension Regulator’s Single Code of Practice which had been put back until Spring 2022 however Officers were working on what was in the draft Code.

·         The Pensions Regulator’s annual scheme return had been received and had to be completed by 10 November.

·         The Pensions Administration Manager highlighted the improvements being made to My Pension online (paragraph 13 of the report), improvements to the i-connect data portal and a recruitment exercise for four new posts to the team.

In response to a query, the Pensions Administration Manager reported that there were a number of transfers out made throughout the year and agreed to provide Members with the statistics.  She explained the strict process followed to ensure members fully understood what would happen and what they could get from the fund.  She was not aware of any member who had regretted leaving the scheme and if they were entitled to a transfer under the legislation, they could not be stopped.

Referring to My Pensions Online, the Pensions Administration Manager explained what the service provided for those who lack or have reduced mental capacity, which included one to ones to go through the paperwork with one of the team, facilitated MS Teams meetings (with assistance from a family member, if required) and bookable public meeting rooms eg the Shrewsbury Hub in the Town Centre, would be used once they were reintroduced.  The Pensions Administration Manager explained that they talked the family  ...  view the full minutes text for item 29.

The next meeting of the Pensions Board will be held at 10.00am on the 28 January 2022.

The next meeting of the Pensions Board would be held on the 28 January 2022 at 10.00am.

To RESOLVE that in accordance with the provision of Schedule 12A of the Local Government Act 1972, Section 5 of the Local Authorities (Executive Arrangements) (Meetings and Access to Information) (England) Regulations and Paragraphs 3 of the Council’s Access to Information Rules, the public and press be excluded during consideration of the following items.

          RESOLVED:

That in accordance with the provisions of Schedule 12A of the Local Government Act 1972 and paragraph 10.2 of the Council’s Access to Information Procedure Rules, the public and press be excluded during consideration of the following items as defined by the categories specified against them.

The Exempt Minutes of the meeting held on the 23 July 2021 are attached for confirmation.

Contact Michelle Dulson (01743) 257719

      RESOLVED:

That the Exempt Minutes of the meeting held on 23 July 2021 be approved and signed by the Chairman as a correct record.

A verbal update will be given.

Contact: Ian Churms, Infrastructure Security and Innovation Manager, ICT Services

The Board received a verbal update from the Infrastructure, Security and Innovation Manager, ICT.

For Board Members to raise any questions following the recent Pensions Committee meeting.

Please click on the link below to access the reports considered by the Pensions Committee at its last meeting on 17 September 2021.

Agenda for Pensions Committee on Friday, 17th September, 2021, 10.00 am — Shropshire Council

      The reports considered by the Pensions Committee at its meeting on 17 September 2021 had been received by the Board. 

Report attached.

Contact: Rebecca Clough (01743) 254457

      The Board received the report of the Communications and Governance Team Leader – copy attached to the signed Exempt Minutes – which provided an update on the Breaches of LGPS regulations recorded for the quarter 1 April 2021 to 30 June 2021 affecting the Shropshire County Pension Fund.  Updates on all other governance issues were also included within the report.

      RESOLVED:

      That the contents of the report be noted.