Agenda

Venue: Committee Room 3 - Civic Centre, St Peter's Square, Wolverhampton WV1 1SH

Contact: Dereck Francis  Tel:01902 555835 or Email: dereck.francis@wolverhampton.gov.uk

Items
No. Item

1.

Apologies for absence (if any)

2.

Notification of substitute members

3.

Declarations of interests (if any)

4.

Minutes of the previous meeting - 12 December 2018 pdf icon PDF 351 KB

[For approval]

5.

Matters arising

[To consider any matters arising from the minutes of the previous meeting]

6.

Quarterly Investment Report to 31 December 2018 pdf icon PDF 239 KB

[To provide an update on a range of investment issues]

Additional documents:

7.

Responsible Investment Activities pdf icon PDF 335 KB

[To provide an update on the work undertaken in relation to responsible investment activities since the last meeting]

Additional documents:

8.

Investment Strategy Statements Review pdf icon PDF 146 KB

[To review and approve the Investment Strategy Statements updated for the West Midlands Pension Fund and West Midlands Integrated Transport Authority Pension Fund]

Additional documents:

9.

Funding Management Update pdf icon PDF 256 KB

[To provide an overview of the proposed changes to the Funding Strategy Statements following the release of LGPS Amendment Regulations]

Additional documents:

10.

Regulatory Update pdf icon PDF 155 KB

[To provide an update on the forthcoming and potential regulatory changes across the LGPS]

Additional documents:

11.

Governance Update Report pdf icon PDF 221 KB

[To provide an update on the work of the Fund in delivering a well governed scheme and to seek approval for the statutory Governance Compliance and Administering Authority Discretion Statements for 2019]

Additional documents:

12.

Internal Audit Plan 2019/2020 pdf icon PDF 131 KB

[To provide the outline work programme for internal audit for 2019/2020]

Additional documents:

13.

Business Performance and Data Management pdf icon PDF 149 KB

[To provide an update on the work of the Fund to ensure ongoing review of service delivery which meets the standards and expectations of its members and employers]

Additional documents:

14.

Budget Monitoring 2018/2019 and Quarterly Accounts December 2018 pdf icon PDF 408 KB

[To present an update on the forecast out-turn for the year against operating budgets and quarterly accounts as at the end of December 2018]

Additional documents:

15.

External Audit Plan 2018/2019 pdf icon PDF 137 KB

[To present the plan for the external audit of the Fund’s Annual Report and Accounts for 2018/2019]

Additional documents:

16.

Budget 2019/2020 and Financial Plan to 2023/2024 pdf icon PDF 614 KB

[To present for approval the Operating Budget for 2019/2020 and the Medium-Term Financial Plan for the five years up to and including 2023/2024]

 

17.

Pensions Administration Report from 1 October to 31 December 2018 pdf icon PDF 760 KB

[To report on the work undertaken by the pensions administration service during the period 1 October to 31 December 2018 for both the Main Fund and the West Midlands Integrated Transport Authority Fund]

Additional documents:

18.

Pensions Administration Strategy 2019 pdf icon PDF 294 KB

[To outline the revisions to the Pension Administration Strategy for approval, in preparation for the revised strategy being implemented from April 2019]

Additional documents:

19.

Customer Engagement Update pdf icon PDF 436 KB

[To provide an update of the Fund’s customer engagement activity from 1 October to 31 December 2018, in line with its Customer Engagement Strategy]

Additional documents:

20.

Additional Voluntary Contributions Review pdf icon PDF 85 KB

[To provide a summary of the review of the Fund’s Additional Voluntary Contribution (AVC) arrangements and the proposed changes to ensure these provide good value and options for members]

 

 

21.

Exclusion of the press and public

[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 press and public

22.

Investment Strategy and Activity Update

[To provide an update on investment strategy and activity in the West Midlands Pension Fund and West Midlands Integrated Transport Authority Pension Fund over the last quarter]

 

23.

LGPS Central Ltd Shareholder Update

[To provide an update on the LGPS Central Shareholder activity and to summarise outcomes of the Shareholder Forum and General Company meeting in February 2019]

 

24.

Procurement

[To provide an update on progress made with procurement activities and the appointment of a number of key providers and advisers]

25.

West Midlands Integrated Transport Authority Fund

[To provide an update on considerations in relation to the potential merger of the West Midlands Integrated Transport Authority Pension Fund and the West Midlands Pension Fund]