Issue - meetings

Governance Report

Meeting: 31/01/2023 - Warwickshire Local Pension Board (Item 4)

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Minutes:

The item was introduced by Martin Griffiths (Technical Specialist, Pension Funds Policy and Governance). He stated the training schedule would be updated depending on the needs of members of the Board and Staff and Pensions Committee, and there had been some input from Hymans Robertson on what training was required. He said extra training could be provided if members felt they needed it.

 

Martin Griffiths said there had been a couple of minor changes to the risk register. Some of these related to the greater relationship between the Pension Fund and Border to Coast.

 

The Admission and Termination Policy had been amended and approved at the 12 December meeting of the Staff and Pensions Committee. The Conflicts of Interest Policy had been updated to include officers as well as elected Members, and this would be published on the Council’s website. Some changes were being made to the Corporate Governance Policy Statement due to the UK Stewardship Code.

 

It was noted that the Consumer Prices Index announced a 10.1 per cent rate of inflation. Rob Bilton said although this was a high rate, it would be offset by the value of the investments being made.

 

The Chair said he was in favour of a simplified version of the risk register being created, stating his belief that an information overload could be created if it was too complicated. Regarding training, the Chair said that a previous complaint he had made had now been rectified. He said that previously people taking training tests would be told their results, but not which questions they had answered incorrectly and so could not learn from them.