Chris Norton, Strategy and Commissioning Manager (Treasury, Pension, Audit & Risk) presented this report which recommended a Business Plan for 2021/22. The Plan comprehensively detailed Fund objectives, strategic priorities, and an action plan to achieve them. In particular, attention was drawn to Appendix C which summarised the actions planned for the coming year, grouped into four categories as detailed in the report.
Members welcomed this issue of the Plan, noting that the style and presentation was much improved from previous versions.
In response to a question from Councillor Andy Jenns around the numbers of employees opting out and how this could be limited, Neil Buxton, Technical Specialist - Pension Fund Policy and Governance, advised that work was ongoing with the County Council’s Communications Team to promote the scheme with eligible employees. Attempts were being made to identify those groups of staff who were not scheme members and target them with some tailored communications.
Councillor Jenns also noted that there was no data for employer activity in 2013/14 (paragraph 2.2). Apologies for the omission were extended, due to the data being missing from main research sources and the limited time to rectify the data gap before publication of the report.
In response to a comment from Councillor Andy Jenns welcoming the implementation of an online portal for members, Chris Norton, Strategy and Commissioning Manager (Treasury, Pension, Audit & Risk) acknowledged that other authorities had introduced this facility much earlier but for Warwickshire the priority had been to complete the iConnect project and clean up data sufficiently to be in a position to launch member self-service.
Councillor Neil Dirveiks sought further information on the revocation of the exit cap and, although this was an area that would be considered by Staff and Pensions Committee, this was agreed by the Chair and Officers.
That the Pension Fund Investment Sub Committee approved the business plan attached at appendix 1 to the report.