Agenda

Pension Board
Wednesday 13 March 2019 6.00 pm

Venue: Board Room 2 - Brent Civic Centre, Engineers Way, Wembley HA9 0FJ. View directions

Contact: Joe Kwateng, Governance Officer  Email: joe.kwateng@brent.gov.uk; 020 8937 1354

Items
No. Item

1.

Apologies for absence

2.

Declarations of interests

Members are invited to declare at this stage of the meeting, any relevant personal and prejudicial interests and discloseable pecuniary interests in any matter to be considered at this meeting.

3.

Minutes of the previous meeting and Matters arising pdf icon PDF 84 KB

To approve the minutes of the previous meeting as a correct record and consider matters arising from the minutes.

4.

The Pensions Regulator

The Pensions Regulator will be making a presentation to the Board.

5.

Pensions Administration Update pdf icon PDF 97 KB

This report updates the Pensions Board on various pensions administration matters as part of its remit to oversee the administration of the Brent Pension Fund.  This includes the outcome of the statutory re-enrolment process, the upcoming triennial valuation of the fund, annual benefit statements for 2019 and an update on the engagement with The Pensions Regulator.

6.

Pensions Administration Performance Report pdf icon PDF 122 KB

This report updates the Pension Board on performance of the pensions administration contract with LPP.

7.

Updated Brent Risk Register 2019 pdf icon PDF 89 KB

This report presents the updated Risk Register for the Brent Pension Fund Pensions Administration Service.

Additional documents:

8.

Update on the Record Keeping Plan 2019 pdf icon PDF 90 KB

This report sets out the London Borough of Brent Pension Fund Record Keeping Plan (as amended in February 2019). The plan primarily relates to various activities and objectives that cover the period January 2019 to December 2019 and beyond.

Additional documents:

9.

Brent Pension Board Terms of Reference review pdf icon PDF 92 KB

The purpose of this report is to update the terms of reference of the Brent Pension Board, taking into account relevant guidance from The Pensions Regulator, advice from the Fund actuary and implementing lessons learned from recent training events.  The aim of the revised terms of reference will be to further clarify the roles and responsibilities of the Pension Board to board members, pension fund members, officers and other interested parties.

Additional documents:

10.

LGPS Regulations Update pdf icon PDF 118 KB

This report updates the board on recent changes to the Local Government Pension Scheme (LGPS) regulations and other key developments from the Local Government Association’s Pensions Committee.

Additional documents:

11.

Implementation of the Investment Strategy pdf icon PDF 151 KB

This report updates the committee on progress on the implementation of the investment strategy

12.

Monitoring report on fund activity for the quarter ended December 2018 pdf icon PDF 986 KB

The report provides a summary of the Fund’s activity during the quarter ended 31 December 2018. It examines the economic and market background, and investment performance, as well as commenting on events in the quarter.

 

13.

London CIV Update pdf icon PDF 86 KB

The purpose of this report is to update the committee on recent developments within the London CIV and the timescales attached to making investment decisions.

Additional documents:

14.

MHCLG Statutory guidance on asset pooling in the Local Government Pension Scheme Consultation pdf icon PDF 107 KB

The Ministry of Housing, Communities and Local Government (MHCLG) have launched an informal consultation on draft new statutory guidance on asset pooling. This guidance sets out the requirements on administering authorities in relation to the pooling of LGPS assets and builds on previous Ministerial communications and guidance on investment strategies

Additional documents:

15.

Any other urgent business

Notice of items to be raised under this heading must be given in writing to the Head of Executive and Member Services or his representative before the meeting in accordance with Standing Order 60.

16.

Date of next meeting

The date of next meeting will be confirmed at the Council’s Annual General Meeting in May 2019.