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Agenda item

Policy Review Update 2018

[To receive an overview of the Fund’s statutory and good practice policies for the year 2018/2019]

Minutes:

Rachel Brothwood, Director of Pensions presented the report on an overview of the Fund’s statutory duty and good practice policies. The Director reported that the Board had previously agreed to allocate policy champions from amongst its number to undertake work on the review of the Fund’s policies. At the training session held earlier in the day it was felt appropriate for the Board to collectively contribute to the policy reviews as and when the policies came around for review.  The Director also reported that the question of the frequency of Board meetings had been raised. She opened discussion on the Board’s draft terms of reference (ToR) and indicated that there needed to be a broader review of the ToR and the Board’s work plan. 

 

Board members present noted paragraph 12 of the ToR which stated Board members who failed to attend three or more events would be asked to leave the Board.  It was also noted that attendance was published and could be scrutinised.

 

Adrian Turner suggested the Board discuss meeting frequency be reviewed.  He stated that he felt bi-annual meetings were insufficient, and that consideration should be given to increasing it to four.  He also asked that the Board reconsider his previously reported concern, that the Administering Authority, City of Wolverhampton Council, had two representatives on the Board because members were either on the Board as an employer representative or a member representative, not as a Council representative.  He asked whether there was any data from the Scheme Advisory Board on the matter. The Director of Pensions reported that City of Wolverhampton councillors were nominated to the Board as either an employer or employee representative and that this was not something the Scheme Advisory Board had commented on. In response to the comments about attendance at meetings, the Director reported that this was the first occasion since the establishment of the Board in 2015 that a meeting was inquorate. 

 

Board members noted that increasing meeting frequency could further impact on attendance rates and the that attendance requirements and meeting quorum needed to be considered in the context of the size of the Board.

 

Steve Carter observed that if a member were to resign and there was a delay in securing a replacement, the delay could also affect to ability of the Board to be quorate for any intervening meetings. The Director of Pensions acknowledged the point and confirmed that the recruitment process to seek a replacement Board member would be conducted mid-year. She agreed to undertake a wider review of meeting and training arrangements to inform a revised Terms of Reference, better placed to meets the requirements of the Board.

 

 

Resolved:

1.     That the Board promote the Fund’s Customer Engagement Strategy amongst their representative groups.

2.     That the Terms of Reference for the Pensions Board for the 2018/2019 year be reviewed in more detail and presented to the next meeting for approval.

3.     That the actions taken by the Fund to review the Policies in line with the Annual Review Plan be noted.

4.     That the Fund’s new Customer Engagement Strategy be noted.

Supporting documents:

 


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