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Agenda and minutes

Venue: Room 18.03, 18th Floor, City Hall, 64 Victoria Street, London, SW1E 6QP

Contact: Toby Howes, Senior Committee and Governance Officer  Tel: 07815 663854; Email:  thowes@westminster.gov.uk

Items
No. Item

1.

Membership

To note any changes to the membership.

Minutes:

1.1      There were no changes to the membership.

2.

Declarations of Interest

To receive declarations of interest by Members and Officers of any pecuniary interest or any other significant interest in matters on this agenda.

Minutes:

2.1      There were no declarations of interest.

3.

Minutes pdf icon PDF 220 KB

To approve the minutes of the Pension Fund Committee meetings held on 23 January 2020 and 20 February 2020 respectively.

Additional documents:

Minutes:

3.1      RESOLVED:

 

           That the minutes of the meetings held on 23 January 2020 and 20 February respectively be signed by the Chairman as a correct record of proceedings.

4.

Pension Administration Update pdf icon PDF 124 KB

Report of the Director of People Services.

Additional documents:

Minutes:

4.1      This item was deferred to a future meeting.

5.

Pension Data Quality pdf icon PDF 272 KB

Report of the Director of People Services.

Minutes:

5.1      This item was deferred to a future meeting.

6.

Admission Agreement Request for Gold Care to become an Admission Body in the Westminster City Council Pension Fund pdf icon PDF 255 KB

Report of the Director of People Services.

Minutes:

6.1      The Committee considered and agreed to the admission agreement request.

 

6.2      RESOLVED:

 

1.     That it be agreed that the Fund enter into a closed admission agreement with Gold Care that allows the two employees to remain in the Westminster City Council pension fund.

 

2.     That it be agreed that the Fund agree a guarantee or bond to cover the risk of any default by Gold Care.

7.

Voluntary Scheme Pays Request for 2019-2020

Report of the Director of People Services.

Minutes:

7.1      The Committee agreed to the voluntary scheme pays request.

          

8.

Triennial Valuation pdf icon PDF 301 KB

Report of the Tri-Borough Director of Treasury and Pensions.

Additional documents:

Minutes:

8.1      The Committee had before them the final results of the 2019 triennial valuation.  Members considered the report and approved the triennial valuation and the Funding Strategy Statement.

 

8.2      Phil Triggs (Tri-Borough Director of Treasury and Pensions) added that he would send the presentation detailing the current situation of the Pension Fund in light of the current COVID-19 pandemic.

 

8.3      RESOVLED:

          

That the 2019 triennial actuarial valuation and the Funding Strategy Statement be agreed.

9.

Quarterly Performance Report pdf icon PDF 490 KB

Report of the Tri-Borough Director of Treasury and Pensions.

Additional documents:

Minutes:

9.1      This item was deferred to a future meeting.

10.

Fund Financial Management pdf icon PDF 627 KB

Report of the Tri-Borough Director of Treasury and Pensions.

Additional documents:

Minutes:

10.1    This item was deferred to a future meeting.

11.

Investment Strategy Statement and Investment Beliefs pdf icon PDF 322 KB

Report of the Tri-Borough Director of Treasury and Pensions.

Additional documents:

Minutes:

11.1    This item was deferred to a future meeting.

12.

Any Other Business The Chairman Considers Urgent

Minutes:

12.1    There was no other business.

13.

Exclusion of Press and Public

RECOMMENDED: That under Section 100 (A) (4) and Part 1 of Schedule 12A to the Local Government Act 1972 (as amended), the public and press be excluded from the meeting for the following items of business because they involve the likely disclosure of exempt information on the grounds shown below and it is considered that, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information:

 

Item Nos

 

 

7, 14 and 15

Grounds

 

 

Information relating to the financial and business affairs of an individual including the authority holding the information and legal advice

Para. of Part 1 of Schedule 12A of the Act

 

3

 

14.

Investment Strategy Review

Report of the Tri-Borough Director of Treasury and Pensions.

Additional documents:

Minutes:

14.1    This item was deferred to a future meeting.

15.

Minutes

To approve the confidential minutes of the Pension Fund Committee meeting held on 23 January 2020.

Minutes:

15.1    RESOLVED:

 

That the confidential minutes of the meeting held on 23 January 2020 be signed by the Chairman as a correct record of proceedings.