(a) Pensions Committee – 26 March 2014

     (for approval)

(b) Investment Advisory Sub Committee – 26 March 2014

     (for approval)

[To appoint Members and Chair’s and Vice Chair’s of the Sub Committee and Forum and to confirm dates and times of meetings of the Committee, Sub Committee and Forum][

[To inform the Committee of the work undertaken by the Pensions Administration Service during the period 1 January 2014 to 31 March 2014]

[To receive a report on the findings of the quarterly Compliance Monitoring Programme together with any other compliance issues]

[To present to Members the draft 2013/14 Statement of Accounts

operating outturn and service planning for West Midlands Pension Fund and

provide an update to the Fund’s financial and business plan monitoring]

[To receive, for information, details of Shareholder activity]

[To receive an update on the implementation of the LGPS 2014]

[To receive an outline of the proposed changes to the Governance structure within the Local Government Pension Funds following the Public Services Pensions Act 2013 and associated legislation, to consider options for future governance structure including consultation proposals and to consider the appointment of a Working Party to consider the options and to make recommendations to the Council thereon]

[To receive details of the training undertaken by Trustees to the period ending 31 March 2014]

[To receive an update on the management arrangements and the special role of Trustees in respect of the discharge of the functions associated with the relevant pension regulations and legislation, proposals for governance reform and training requirements]

[To receive an update on the changes and updates required to the Fund’s

Strategy and Policy Statements detailing reasons for those changes]

[To receive details of the Fund’s investment policy and performance for the year ended 31 March 2014 and proposed changes to strategic risk bands from 1 July 2014]

[To receive details of the key 2014 Chancellor of the Exchequer’s statement and the impact on Pension Schemes and, in particular, the Local Government Pension Scheme]

[To consider the proposed Administering Authority’s Policy Discretions]

[To consider the 2014/15 Internal Audit plan for the West Midlands Pension Fund]

[To receive details of the Fund’s response to the Department for Communities and Local Government (DCLG) May 2014 consultation on Local Government Pension Scheme reform]

[To pass the following resolution:

That in accordance with Section 100A(4) of the Local Government Act 1972 the press and public be excluded from the meeting for the following items of business as they involve the likely disclosure of exempt information on the grounds shown below]

Part 2 – exempt items, closed to the press and public

[To receive an details on the Investment Portfolio Valuation as at 31 March 2014 – a copy will be available at the meeting]

[To receive an update on the monitoring of employer covenants by the Fund]