Issue - meetings

This report was presented by Neil Buxton, Technical Specialist who explained that the report set out all the policies in place to ensure the successful operation of the Fund and to meet Pension Regulator requirements together with proposed timescales for periodic review.  It was also noted that some policies would need to be reviewed when there was a material change to circumstances such as changes in legislation which required a policy amendment.

There are a significant number of policies and the Fund will keep under review whether the revised capacity and arrangements to maintain and develop them are sufficient.

In response to a query about engaging with scheme employers to keep their policies up to date, Neil Buxton, Technical Specialist, noted that this was an area that funds had problems with and whilst it was acknowledged that good employers would provide their discretions policy statements,  unfortunately a lot of smaller employers did not see the need.   As part of the administration process, the Fund periodically reminded employers to have a policy in place and, on sending a copy of Warwickshire County Council’s policy as an example template, it was sometimes the case that employers would respond to confirm that they had adopted a similar policy.

Resolved –

The Local Pension Board noted the report.