Meeting documents

Investment and Pension Fund

Committee Agenda

Fri Feb 26 2016

Related Documents:
minutes for this agenda

A meeting of the Investment and Pension Fund Committee will be held on the above date at 10.00 am at County Hall, Exeter to consider the following matters.

P NORREY

Chief Executive

A G E N D A

1. Apologies for Absence

2. Minutes

Minutes of the meeting held on 2 February 2016 attached (Page 1).

3. Items Requiring Urgent Attention

Items which in the opinion of the Chairman should be considered at the meeting as matters of urgency.

4. LGPS Update: Pooling of Investments

County Treasurer to report.

5. Actuarial Review 2016

Report of the County Treasurer (CT/16/17 - text only | pdf CT/16/17), attached (Page 5)

6. Investment Management Report

Report of the County Treasurer (CT/16/18 - text only | pdf CT/16/18) attached (Page 9).

7. Treasury Management Strategy

Report of the County Treasurer (CT/16/19 - text only | pdf | supplementary information CT/16/19) attached (Page 15).

8. Applications for Admitted Body Status

The following applications for admitted body status have been approved since the last meeting of the Committee:

(a) Devon County Council will be transferring the provision of library services to Libraries Unlimited South West. Approximately 450 staff will transfer to the new employer who will be entering into a closed admission agreement.

(b) Devon County Council is transferring its Occupational Health services to IMASS. Four members of staff will transfer and be entered into a closed admission agreement.

9. Committee Training

A training day for members of the Investment and Pension Fund Committee and the Devon Pension Board has now been arranged for Friday 27th May. This will comprise a half day update on the progress of Project Brunel (pooling of investments) and a half day covering other training requirements of the Committee and Pension Board.

10. Annual Consultative Meeting with Staff and Retired Members

The Annual Consultative Meeting is being held in the afternoon following the Investment and Pension Fund Committee meeting, commencing at 2.15pm. Presentations will be made by Mark Gayler, Assistant County Treasurer, Charlotte Thompson, Head of Peninsula Pensions and Alan MacDougall and Tessa Younger from the Local Authority Pension Fund Forum. Members of the Committee are welcome to attend.

11. Dates of Future Meetings

The Committee will meet at 10.00am Friday 17 June 2016, Friday 16 September 2016, Friday 18 November 2016 and Friday 24 February 2017.

PART II ITEMS WHICH MAY BE TAKEN IN THE ABSENCE OF THE PRESS AND PUBLIC

12. Exclusion of the Press and Public

Recommendation: that the press and public be excluded from the meeting for the following item of business under Section 100(A)(4) of the Local Government Act 1972 on the grounds that it involves the likely disclosure of exempt information as defined in Paragraph 3 of Schedule 12A of the Act, information relating to the financial or business affairs of an individual other than the County Council and, in accordance with Section 36 of the Freedom of Information Act 2000, by virtue of the fact that the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

13. Asset Allocation and Transition to Pool

Report of the County Treasurer (CT/16/20), attached (Page 33)

Members are reminded that Part II Reports contain exempt information and should therefore be treated accordingly. They should not be disclosed or passed on to any other person(s).

Members are also reminded of the need to dispose of such reports carefully and are therefore invited to return them to the Democratic Services Officer at the conclusion of the meeting for disposal.

Membership

Devon County Council

Councillors Gilbert (Chairman) Edgell, Hannon, Hill, Hosking and Radford.

Unitary and District Councils

Councillors Parker Delaz Ajete (Plymouth), Edwards (Exeter - LGA Devon), O Dwyer (Torbay)

Substitute Members: Councillor Hicks (for Cllr Edwards) and Councillor Fox (for Cllr Parker Delaz Ajete)

Other Employment Rep

Ms D Healy (Dartmoor National Park Authority)

Union and Retired Members: Observers Non-Voting

Mr. Franceschini, Mr. Lomax and Ms. Rimron

Declaration of Interests

Members are reminded that they must declare any interest they may have in any item to be considered at this meeting, prior to any discussion taking place on that item.

Access to Information

Any person wishing to inspect any Minutes, Reports or Background papers relating to any item on this agenda should contact Stephanie Lewis on 01392 382486.

Agendas, Reports and Minutes of this Committee are published on the Council s Website at:http://www.devon.gov.uk/index/councildemocracy/decision_making/cma/index_inv.htm

Webcasting, Recording or Reporting of Meetings and Proceedings

The proceedings of this meeting may be recorded for broadcasting live on the internet via the Democracy Centre on the County Council s website. The whole of the meeting may be broadcast apart from any confidential items which may need to be considered in the absence of the press and public. For more information go to: http://www.devoncc.public-i.tv/core/

In addition, anyone wishing to film part or all of the proceedings may do so unless the press and public are excluded for that part of the meeting or there is good reason not to do so, as directed by the Chairman. Any filming must be done as unobtrusively as possible from a single fixed position without the use of any additional lighting; focusing only on those actively participating in the meeting and having regard also to the wishes of any member of the public present who may not wish to be filmed. As a matter of courtesy, anyone wishing to film proceedings is asked to advise the Chairman or the Democratic Services Officer in attendance so that all those present may be made aware that is happening.

Members of the public may also use Facebook and Twitter or other forms of social media to report on proceedings at this meeting. An open, publicly available Wi-Fi network (i.e. DCC) is normally available for meetings held in the Committee Suite at County Hall. For information on Wi-Fi availability at other locations, please contact the Officer identified above.

Emergencies

In the event of the fire alarm sounding, leave the building immediately by the nearest available exit, following the fire exit signs. If doors fail to unlock press the Green breakglass next to the door. Do not stop to collect personal belongings, do not use the lifts, do not re-enter the building until told to do so.

Mobile Phones

Please switch off all mobile phones before entering the Committee Room or Council Chamber

If you need a copy of this Agenda and/or a Report in another format (e.g. large print, audio tape, Braille or other languages), please contact the Information Centre on 01392 380101 or email to: centre@devon.gov.uk or write to the Democratic and Scrutiny Secretariat at County Hall, Exeter, EX2 4QD.

Induction loop system available

Date Published: Thu Feb 18 2016