Agenda

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 - 22 October 2019 pdf icon PDF 92 KB

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

4.

Matters arising (if any)

5.

Brent Risk Register pdf icon PDF 82 KB

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

 

I have attached 2 appendices to the main report.

Additional documents:

6.

Pensions administration update pdf icon PDF 119 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 an appendix to the report.

Additional documents:

7.

LGPS update pdf icon PDF 109 KB

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

 

I have attached a number of appendices (12) to the report.

Additional documents:

8.

2019 Triennial Valuation Results and Funding Strategy Statement pdf icon PDF 98 KB

This report sets out the results of 2019 triennial actuarial valuation and the Funding Strategy Statement (FSS) to the Committee for consideration and approval.

 

I have attached appendices to the report some of which are excluded from the press and public for reasons set out below in item 14.

Additional documents:

9.

Abatement of Local Government Pension on re-employment pdf icon PDF 99 KB

This report provides the Committee with information regarding the reduction or suspension of a Local Government Pension on account of further employment within Local Government after an individual has retired (Abatement).

 

Information about the abatement practices of other Local Authorities is set out in Appendix 1 while further explanation of the current policy and proposed change is set out in Appendix 2.

 

 

Additional documents:

10.

Review of Investment Strategy pdf icon PDF 88 KB

This report presents the analysis and results of the investment review carried out by Hymans Robertson. The review, that follows on from the 2018 strategic investment review and the Fund’s 2019 Actuarial Valuation, was to review the current investment strategy and analyse the ability of alternative strategies to meet the Fund’s strategic objectives.

 

I have attached an appendix to the report.

 

Additional documents:

11.

Update on Responsible Investment, Climate Change Risk and Environmental, Social and Governance (ESG) issues pdf icon PDF 188 KB

This report provides an update on Environmental, Social and Governance (ESG) considerations with regards to strategic investment decisions, in particular how the fund is continuing to manage the risks of climate change.

 

I have attached appendices to the report some of which are excluded from the press and public for reasons set out in item 14.

 

Additional documents:

12.

Date of next meeting

The next scheduled meeting will be confirmed at the Council’s Annual Meeting in May 2020.

13.

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.

14.

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)".

15.

London CIV update

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

 

I have added 3 appendices to the main report.

16.

Appendices to Triennial Valuation report

17.

Appendix to report - ESG Issues