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Agenda and minutes

Venue: Committee Room 4, Town Hall, Upper Street, N1 2UD. View directions

Contact: Mary Green  Telephone: 020 7527 3005

Items
No. Item

52.

Apologies for absence

Minutes:

Received from Councillor Paul Smith.

53.

Declaration of interests

If you have a Disclosable Pecuniary Interest* in an item of business:

·         if it is not yet on the council’s register, you must declare both the existence and details of it at the start of the meeting or when it becomes apparent;

·         you may choose to declare a Disclosable Pecuniary Interest that is already in the register in the interests of openness and transparency. 

In both the above cases, you must leave the room without participating in discussion of the item.

 

If you have a personal interest in an item of business and you intend to speak or vote on the item you must declare both the existence and details of it at the start of the meeting or when it becomes apparent but you may participate in the discussion and vote on the item.

 

*(a) Employment, etc - Any employment, office, trade, profession or vocation carried

 on for profit or gain.

(b) Sponsorship - Any payment or other financial benefit in respect of your

expenses in carrying out duties as a member, or of your election; including from a

trade union.

(c)  Contracts - Any current contract for goods, services or works, between you or

your partner (or a body in which one of you has a beneficial interest) and the

council.

(d) Land - Any beneficial interest in land which is within the council’s area.

(e) Licences- Any licence to occupy land in the council’s area for a month or longer.

(f)  Corporate tenancies - Any tenancy between the council and a body in which you

or your partner have a beneficial interest.

(g) Securities - Any beneficial interest in securities of a body which has a place of

business or land in the council’s area, if the total nominal value of the securities

exceeds £25,000 or one hundredth of the total issued share capital of that body or of

any one class of its issued share capital. 

 

This applies to all members present at the meeting.

 

Minutes:

None.

54.

Minutes of the previous meeting pdf icon PDF 60 KB

Minutes:

RESOLVED:

That the minutes of the meeting held on 12 September 2018 be confirmed as a correct record and the Chair be authorised to sign them.

 

55.

Pension administration performance pdf icon PDF 147 KB

Minutes:

Members raised the following points during discussion:

 

·         Auto-enrolment of employees was a priority, including employees of admitted bodies to the Fund

·         It would be useful for the Board to see communications to Scheme members from the Pensions Team and Human Resources before they are sent out, in order that the Board may provide feedback

·         The Pensions Team to report back to the Board on auto-enrolment, including information on numbers opting out and targets and comparisons with 2016

·         Although the Pensions roadshows from the Pensions Team were useful, the sessions needed to be lengthened, as attendees generally had many questions

·         The Pensions roadshow slideshow presentation to be circulated to members of the Board

·         The Pensions Team should explore the use of other mediums for disseminating pensions’ information eg social media, Izzi ( - the Council’s internal website)

·         Particular attention needed to be paid to how the Pensions Team could better improve its communications with manual staff

 

RESOLVED:

(a) That the performance of the Pension Administration Team against key indicators, for the period from 1 August 2018 to 31 October 2018, including information on complaints and internal disputes, as detailed in the report of the Corporate Director of Resources, be noted.

(b) That the number and age profile of Islington employees who are not members of the LGPS, together with details of the Islington employees who auto-enrolled into the Local Government Pensions Scheme during the relevant period, be noted.

(c) That it be noted that there had been one nomination for a retired members’ representative to serve on the Board.

56.

Brexit and the Local Government Pensions Scheme (LGPS) pdf icon PDF 79 KB

Minutes:

RESOLVED:

(a) That it be noted that there was no immediate change anticipated to the LGPS as a result of Brexit, but any downturn in the wider economy could have an impact on the Government’s future decisions in relation to the LGPS.

(b) That it be noted that it was possible that any downturn or volatility as a result of Brexit could impact Islington Council’s Pension Fund, but any risk was mitigated by the Fund’s diversification of investments over a range of different asset classes and foreign markets.

(c) That it be noted that no pre-emptive actions could be taken by the Council’s Pension Administration Team in relation to Brexit.

(d) That it be noted that work was under way to assess the impact of Brexit on EU citizens working for Islington and the process for those employees applying for settled status.

57.

Pension Board Forward Work Plan 2018/19 pdf icon PDF 92 KB

Minutes:

With regard to the focus of the Board, members highlighted a need to be able to review the full range of operational documents for the LGPS, including data and cyber security, to be able to fulfil their responsibilities.   Ways of communicating all of the available information on the LGPS to Scheme members, including manual staff, was an issue which Board members would like to address.

 

It was noted that information on a Scheme member’s nominated beneficiary needed to be updated and publicised more widely, in order that in the event of the death of a Scheme member, a partner would know who to contact.

 

RESOLVED:

That the contents of Appendix A to the report of the Interim Corporate Director of Resources, detailing proposed agenda items for future meetings, be noted.