Neil Buxton, Technical Specialist - Pension Fund Policy and Governance explained that the annual review of the Conflicts of Interest Policy had identified that members of the Board were required to complete a declaration of pecuniary interests. A standard proforma had been issued and members would be asked to update it annually.
Alan Kidner noted that the focus on pecuniary interests was very narrow and that a wider range of interests should be encapsulated when relevant. Chris Norton, Strategy and Commissioning Manager (Treasury, Pension, Audit & Risk) agreed with this principle and the need to provide an adequate of level of transparency in respect of any conflict of interest. The Chair noted that members had the opportunity to declare interests at the commencement of each meeting
The Local Pension Board noted the report.