Meeting documents

Mr Deal, Mr Gilbody and Mrs Rowe declared personal interests as members of the Local Government Pension Scheme.

The Committee is asked to confirm the minutes are accurate.

The minutes of the meeting held on 22 July 2016 were accepted as being accurate and were signed by the Chairman.

The Chairman will allow members of the public to present a petition on any matter within the Board’s remit. Questions or statements about any matter on the agenda for this meeting will be taken at the time when each matter is considered.

There were no members of the public present and no questions were asked, statements/comments made or petitions presented.

To consider this report.

The Board considered its Business Plan for the coming year and made the following adjustments and additions:

•           To arrange for training for Board members (the Fund & Investment Manager to action, possibly in connection with training for new councillors following the May 2017 elections). Grant Thornton agreed to give a  ...  view the full minutes text for item 59.

To consider this report.

The Board considered a report by the Fund & Investment Manager which gave an update on the work towards the pooling of the Fund’s investment assets with other LGPS funds with pooling beginning in April 2018. It was noted that a full business case (FBC) had been produced by the Brunel  ...  view the full minutes text for item 60.

To consider this report.

The Board considered this report that provided an update on the risk register since the last meeting. The risk register, attached to the report as Appendix A, was discussed and the Funds and Investments Manager provided an overview of each risk and the mitigating actions and control measures.

There was  ...  view the full minutes text for item 61.

To consider this report.

The Board received a paper that provided the requested bi-annual update on the performance of Peninsula Pensions, the shared service that provided benefits administration to the Somerset and Devon Pension Funds.

It was noted that overall the report presented a positive overview of performance and for 2014/15 88% of work  ...  view the full minutes text for item 62.

To consdier this report.

The Board considered this report from the External Auditors The Board heard from the External Auditor who provided a thorough overview of the planned Audit of the Somerset Pension Fund. It was reported that in planning the Audit the External Auditors would plan so that they had an understanding of  ...  view the full minutes text for item 63.

To consider the Pension Committee papers, circulated separately.

The Board considered the agenda and reports from the 3 March 2017 meeting of the Pensions Committee, with the Funds and Investments Manager providing an overview of the reports.  The following topics were covered in discussion:

• Analysis of Performance: the Board was pleased to note that most targets had  ...  view the full minutes text for item 64.

To consider this report.

The Board considered this report that proposed meeting dates for the forthcoming year. Members noted the report and agreed the following dates for 2018:

•           Thursday 15 March 2018 at 10.00 am at County Hall, Taunton;

•           Tuesday 24 July 2018 at 10.00 am at County Hall, Taunton;

•           Thursday  ...  view the full minutes text for item 65.

The Chairman may raise any items of urgent business.

There were no other or urgent items of business, the Chairman thanked all those present for attending and closed the meeting.