Agenda and minutes

The minutes of the meeting held on 17 Septemebr 2018 were taken as read, confirmed and signed.

The Chief Executive reported that no questions had been received under Standing Order 35.

The Chief Executive reported that no questions had been received under Standing Order 7(3) and 7(5).

There were no items for consideration.

The Chairman invited members who wished to do so to declare any interest in respect of items on the agenda for the meeting. No declarations were made.

The Board considered a report of the Director of Corporate Resources which detailed relevant issues concerning the administration of Fund benefits, including the performance of the Pensions Section against its Performance Indicators. The Report is filed with these minutes and marked ‘Agenda Item 6’.

The Board noted that six transfer of undertakings protection of employment (TUPE) arrangements remained outstanding as of 20 November 2018. Of particular concern was the transfer of Tudor Grange Academy to Computer Systems in Education Limited (CSE). Whilst the CSE had now secured the required bond, the admission agreement and bond documents remained unsigned.

In response to questions from members, the Director confirmed that the agreement affected one member of the Fund  who was not classed as an ‘active member’ of the Fund until the agreement was in place, their benefits would be backdated once the transfer was complete. He added that the new pension regulations recently introduced did little to improve the situation and continued to allow TUPE to happen without all the legal documentation in place although a new consultation was taking place on New Fair Deal which could improve this in future.

Members also expressed their continued concern in the matter of Tudor Grange to Ridgecrest (cleaning) and Melton Borough Council to AXIS and requested that the Director write to the staff affected.

In reference to the table within the report which detailed the outstanding TUPE transfers, an additional column would be added to future reports to include how the Administering Authority intended to manage each case.

RESOLVED:

a)    That a letter expressing the Boards concern be sent to Tudor Grange in relation to the outstanding transfer of undertakings protection of employment (TUPE) Admission Agreement;

b)    That a letter be sent to the staff at Ridgecrest (cleaning) and AXIS  who are affected by the delay informing them of the issue.

The Director of Corporate Resources presented a report  the purpose of which was to detail any concerns relating to the risk management and internal controls of the Fund.

The Director reported that since the Board’s last meeting no additional risks had been identified.

RESOLVED

That the Board note the revised risk register.

The Board considered a report of the Director of Corporate Resources concerning pension administration current developments. A copy of the report ‘Agenda Item 8’, is filed with these minutes.

In reference to the national ‘cost cap’ of Local Government Pension Funds, it was noted that the Scheme Advisory Board (SAB) operated its own process to assess the overall operation and viability of the schemes which would be undertaken before the HM Treasury Employer Cost Cap (ECC) process was started. It was not possible at this stage to give any indication of what the outcome might be.

RESOLVED:

That the report be noted.

The Board received a report of the Director of Corporate Resources which provided an update on the Pension Section’s Data Improvement Plan. A copy of the report, marked ‘Agenda Item 9’ is filed with these minutes.

It was reported that whilst Leicestershire County Council had moved all of its 7418 active members to monthly posting, Leicester City Council had experienced technical difficulties which had  delayed their implementation. The City was working well with the Fund and it was hoped they would be able to move to monthly postings from April 2019. Members noted that the deadline for all employers to provide monthly posting was 31 March 2020.

The Board were informed that all preserved members had been traced in regards to Guaranteed Minimum Pension (GMP) reconciliation and work was still ongoing.

RESOLVED:

That the Board note the report,

Monday 4 March 2019 at 9.30am

It was noted that the next meeting of the Board would be held on 4^th March 2019 at 9.30am.