Issue - meetings

Neil Buxton, Technical Specialist - Pension Fund Policy and Governance, presented this report to the Board. It provided an update on risk appetite, the risk register, risk monitoring and the risks identified. Appendices to the report provided the risk definitions and the risk register. The main area of focus for the risk register was the outsourcing to West Yorkshire Pension Fund (WYPF). A comprehensive report on this would be provided to the next meeting, to include where responsibility for each risk rested under the new outsourced pensions administration arrangements.

The Chair asked if there was a need to change any of the risks in relation to the current position on immediate detriment. Liz Firmstone would check if there had been an adjustment following the withdrawal of the Home Office guidance. Further information on immediate detriment would be provided as part of an item later on the agenda.

The Chair noted the information provided about the outsourcing and responsibility for risk. Discussion took place about the responsibilities for the scheme manager, the current position and the potential sharing of knowledge and reduced risk from the revised model, when this was implemented. Officers had reviewed the risk register looking at areas where the new provider should become responsible.

The Warwickshire Fire and Rescue Local Pension Board noted the report and the attached risk register.