Agenda

Venue: Boardrooms 7&8 - 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 - 13 June 2019 pdf icon PDF 92 KB

To approve the minutes of the previous meeting as a correct record.

4.

Matters arising (if any)

5.

Pensions Administration Update pdf icon PDF 129 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.

 

I have attached 3 appendices to this report.

Additional documents:

6.

LGPS Update pdf icon PDF 96 KB

The purpose of this report is to update the Board on recent developments within the LGPS regulatory environment and any recent consultations issued by the Ministry of Housing, Communities and Local Government which have would have a significant impact on the Fund.

 

I have produced 8 appendices to this report in the supplementary pack.

Additional documents:

7.

Brent Risk Register 2019 pdf icon PDF 81 KB

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

 

I have attached 2 appendices to this report.

Additional documents:

8.

The Pensions Regulator (TPR) pdf icon PDF 86 KB

This report presents the outcome of The Pensions Regulator’s engagement sessions with Local Authorities.

9.

Brent Pension Fund's approach to Responsible Investment and Environmental, Social and Governance issues pdf icon PDF 138 KB

This report sets out the Fund’s proposed approach to further integrating Environmental, Social and Governance (ESG) considerations into its strategic decision making, in particular it sets out a new package of measures, subject to committee approval, the Fund intends to take in the short and medium term to manage the risk of climate change.

 

I have attached an appendix to this report.

Additional documents:

10.

Investment Monitoring report on Fund Activity for Q2, 2019 pdf icon PDF 532 KB

This report updates Members on Brent Pension Fund’s activity for quarter 2, 2019.

11.

Brent Pension Fund: Annual Report and Accounts 2018/19 pdf icon PDF 88 KB

This report presents the draft Pension Fund Annual Report and audited Annual Accounts for the year ended 31 March 2019.

 

I have produced the appendix to the Annual Accounts in the supplementary pack.

Additional documents:

12.

Review of Fund benchmarks and performance targets pdf icon PDF 127 KB

The purpose of this report is to review the Fund’s investment benchmarks and performance targets at an individual asset class level.

 

I have attached an appendix to this report.

Additional documents:

13.

Equitable Life Proposal pdf icon PDF 104 KB

The purpose of this report is to outline proposed changes to the Equitable, a legacy AVC (Additional Voluntary Contributions) provider for the Brent Pension Fund.

14.

Date of next meeting

The next scheduled meeting of the Board is on 25 March 2020.

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.

Exclusion of Press and Public

The following reports are excluded from the press and public as they contain the following category of exempt information as specified in Paragraph 3, Schedule 12A of the Local Government Act 1972, namely:

“Information relating to the financial or business affairs of any particular person (including the authority holding that information)".

17.

London CIV Update

The purpose of this report is to update the committee on recent developments within the London CIV (LCIV).

 

I have attached 2 appendices to this report.

18.

2019 Triennial Valuation

The purpose of this report is to update members on the progress of the 2019 Triennial Valuation and the next steps.  It also requests that members approve the draft FSS (Funding Strategy Statement) for consultation with employers.

 

I have attached an appendix to this report.