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Agenda

Brent Pension Fund Sub-Committee
Monday 21 February 2022 6.00 pm

  • Attendance details
  • Agenda frontsheet pdf icon PDF 358 KB
  • Agenda reports pack pdf icon PDF 8 MB

Venue: Conference Hall - Brent Civic Centre, Engineers Way, Wembley, HA9 0FJ. View directions

Contact: Andrew Phillips, Governance Officer  Tel: 0208 937 4219; Email:  Andrew.Phillips@brent.gov.uk

Note: ue to the current limits on meeting venue capacity at the Civic Centre any press and public wishing to attend this meeting are encouraged to follow proceedings via the live webcast. The link to follow the meeting is available via the Livestreaming page on the Democracy in Brent section of the Council's website or link on the front page of the published meeting agenda. 

Items
No. Item

1.

Declarations of personal and prejudicial interests

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

2.

Minutes of the previous meeting pdf icon PDF 258 KB

To confirm and approve the minutes of the previous Sub Committee held on Tuesday 5 October 2021 as an accurate record.

3.

Matters arising

4.

Deputations (if any)

5.

London Borough of Brent Pension Fund - Q3 2021 Investment Monitoring Report pdf icon PDF 2 MB

To receive the Brent Pension Fund Q3 2021 Investment Monitoring Report.

6.

Net Zero Transition Roadmap Update pdf icon PDF 148 KB

This report presents an update on progress against the Fund’s net zero transition roadmap.

 

Additional documents:

  • 06a. Appendix 1- Net Zero Roadmap Update , item 6. pdf icon PDF 884 KB

7.

Actuarial Assumptions (Summary) pdf icon PDF 152 KB

This report provides an update on the 2022 valuation process, in particular on the key financial and demographic assumptions that drive the overall funding level and employer contribution rates.

 

Additional documents:

  • 07a. Appendix 1 - 2022 valuation assumptions advice (public) , item 7. pdf icon PDF 210 KB

8.

Pension Fund Annual Report 2020-21 pdf icon PDF 143 KB

This report presents the final version of the Pension Fund Annual Report for the year ended 31 March 2021, following the conclusion of the external audit.

 

Additional documents:

  • 08a. Appendix 1 - Pension Fund Annual Report 2020-21 , item 8. pdf icon PDF 2 MB

9.

Procurement of Actuarial, Custodian and Investment Management Consultancy Services pdf icon PDF 164 KB

The purpose of this report is to summarise the outcome of the Actuarial Services tender and seek authority to procure a contract for Custodian Services and Investment Management Services.

 

10.

LAPFF engagement report pdf icon PDF 146 KB

This report is for noting and presents members with an update on engagement activity undertaken by LAPFF (the Local Authority Pension Fund Forum) on behalf of the Fund. The Fund’s commitment with LAPFF and its work demonstrates its commitment to Responsible Investment and engagement as a way to achieve its objectives.

Additional documents:

  • 10a. Appendix 1 - LAPFF engagement report , item 10. pdf icon PDF 1 MB

11.

Minutes of Pension Board pdf icon PDF 256 KB

To note the minutes of the Pension Board held on 2 November 2021.

12.

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 her representative before the meeting in accordance with Standing Order 60.

13.

Exclusion of the Press and Public

The press and public will be excluded from the remainder of the meeting as the reports to be considered 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)"

14.

Actuarial Assumptions (Full Report)

  • View the reasons why item 14. is restricted

This report provides the full update on the 2022 valuation process, in particular on the key financial and demographic assumptions that drive the overall funding level and employer contribution rates.

 

15.

London CIV Update

  • View the reasons why item 15. is restricted

To receive a report from the Director of Finance providing an update on recent developments regarding the Brent Pension Fund Investments held within the London CIV (LCIV).

 

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