Chris Norton (Strategy and Commissioning Manager – Treasury, Pension, Audit and Risk) introduced this report which set out Warwickshire Pension Fund’s Business Plan for 2023/24, including details of governance arrangements and actuarial activities. He highlighted the addition of ‘Sustainability’ as a theme of the Action Plan for 2023/24, recognising the focus on climate risk. He advised that the Fund’s membership had continued to increase. This trend was projected to continue. The number of employers had also increased. He highlighted the additional demand that this placed on the Fund.
Chris Norton highlighted coverage in the report of key activities including the Member Self Service (MSS) scheme and Pensions Dashboard initiative. He advised that Workforce Planning continued to occupy an important part of the Business Plan to promote staff retention and maintain resilience. He highlighted the 38 actions listed within Appendix C of the report. A quarterly update of progress against these priorities would be provided to the Local Pension Board during the year ahead.
In response to Councillor Hammersley, Chris Norton advised that i-Connect had proved to be an asset for academies joining the Fund, particularly those that did not have a large back-office staff.
In response to the Chair, members agreed to approve the recommendation of the report.
That the Staff and Pensions Committee notes and approves the Business Plan for 2023/24 as attached at Appendix 1 of the report.