Agenda

Pensions Committee - Wednesday, 24th March, 2021 10.00 am

Venue: Online Meeting

Contact: Kirsty Tuffin  Tel:01902 552873 or Email: kirsty.tuffin@wolverhampton.gov.uk

Media

Items
No. Item

1.

Apologies for absence (if any)

2.

Declarations of interests (if any)

3.

Minutes of the Previous Meeting pdf icon PDF 321 KB

[For approval.]

 

 

4.

Matters arising

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

5.

Customer Engagement Update pdf icon PDF 455 KB

[To receive an update of the Fund’s customer engagement activity from 1 October 2020 to 31 December 2020.]

Additional documents:

6.

Pensions Administration Report from 1 October to 31 December 2020 pdf icon PDF 905 KB

[To receive an update on the routine operational work undertaken by the pensions administration service areas during the period 1 October to 31 December 2020.]

Additional documents:

7.

Governance and Assurance pdf icon PDF 149 KB

[To receive an update on the work of the Fund to deliver a well governed scheme.]

Additional documents:

8.

Regulatory Update pdf icon PDF 255 KB

[To receive an update on key developments currently impacting the regulatory environment in which the Fund operates.]

9.

Funding Strategy Statement Review 2021 pdf icon PDF 289 KB

[To receive an overview of the proposed changes to the Funding Strategy Statement (FSS) following the publication of amendments to LGPS Regulation which enable employer funding flexibility.]

Additional documents:

10.

Corporate Plan 2021-2026 pdf icon PDF 238 KB

[To receive the proposed Fund Corporate Plan 2021 – 2026. Appendix A to follow.]

Additional documents:

11.

Budget Monitoring 2020-2021 and Quarterly Accounts 31 December 2020 pdf icon PDF 450 KB

[To receive an update on the forecast out-turn against operating budget for 2020/2021 and present the quarterly accounts to 31 December 2020.]

Additional documents:

12.

Budget 2021/2022 and Financial Plan to 2025/2026 pdf icon PDF 436 KB

[To receive the Operating Budget for 2021/2022 and the Medium-Term financial plan for the five years up to and including 2025/2026.]

13.

Accounting Policies 2020/2021 pdf icon PDF 268 KB

[To receive the accounting policies to be used in preparing the Funds’ accounts for the 2020/2021 financial year.]

Additional documents:

14.

External Audit Plan 2021 pdf icon PDF 150 KB

[To receive an update on the plan for the external audit of the Fund’s Annual Report and Accounts for 2020/2021. Appendices to follow.]

Additional documents:

15.

Internal Audit Plan 2021-2022 pdf icon PDF 132 KB

[To receive an outline of the work programme for internal audit during 2021 – 2022.]

Additional documents:

16.

Quarterly Investment Report to 31 December 2020 and Investment Strategy Statement Review 2021 pdf icon PDF 758 KB

[To receive an update on developments in investment markets, asset allocation and investment performance over the latest quarter in relation to the West Midlands Pension Fund (Main Fund and Admitted Body Sub Funds). Appendix B to follow.]

Additional documents:

17.

Responsible Investment Activites pdf icon PDF 438 KB

[To receive an update on the work undertaken in relation to responsible investment activities.]

Additional documents:

18.

Exclusion of 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 falling within paragraph 3 of Schedule 12A to the Act.]

Part 2 - Exempt items, closed to press and public

19.

Investment Strategy and Activity Update

[To receive an update on the investment strategy and activity in the WMPF and Admitted Body Sub Funds over the quarter.]

20.

LGPS Central Pool Shareholder Update

[To receive an update on matters considered and presented to Shareholders at the LGPS Central Limited General Meeting on 10 February 2021 and on the Company and pool progress.]

21.

Procurement Programme

[To receive an update on the programme of work to procure key systems and professional services/advisors.]

22.

Cyber Security

[To receive an update on the activity undertaken in 2020/2021 in relation to protect the Fund’s data and assets against cybercrime.]

Additional documents:

23.

Guaranteed Minimum Pension Reconciliation

[To receive an update on the rectification of member’s pension in payment records.]