Agenda

Members of the Committee will declare any interests they may have in any item to be considered at this meeting, prior to any discussion taking place on that item.

The registrable interests of Councillors of Devon County Council, arising from membership of City, Town or Parish Councils and other Local Authorities will automatically be recorded in the minutes. 

For details of District and or Town and Parish Twin Hatters – please see here:

County councillors who are also district, borough, city, parish or town councillors

Minutes of the meetings held on 1 March 2024 and 14 June 2024 (inquorate), attached.

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

Minutes of the Devon Pension Board meeting held on 15 July 2024, attached.

Minutes of the Brunel Oversight Board meeting held on 6 June 2024, attached.

Report of the Director of Finance and Public Value (DFP/24/91), attached; and Pension Fund Annual Report & Accounts 2023/24, supplementary.

Report of the Director of Finance and Public Value (DFP/24/92), attached.

Report of the Director of Finance and Public Value (DFP/24/93), attached.

Report of the Director of Finance and Public Value (DFP/24/94), attached.

Report of the Director of Finance and Public Value (DFP/24/95), attached.

Report of the Director of Finance and Public Value (DFP/24/96), attached.

(a)  New admitted bodies – The following application for admitted body status has been approved since the last meeting of the Committee:

·         1 April 2024 – Ted Wragg Trust outsourced cleaning services to Fusion School Services Ltd.

·         1 April 2024 -  Bishopsteignton  Primary School (LA School) outsourced their catering to Clever Chefs Ltd.

(b)  New resolution bodies - The following parish councils became employers in the Fund:

·         1st October 2023 Wembury Parish Council became an employer in the Devon Pension Fund.

·         25th April 2024 Georgeham Parish Council became an employer in the Devon Pension Fund.

(c)   Employer Cessations - The following employer has left the scheme

·         28th July 2023 Millfields Trust ceased as an employer within the Devon Pension Fund.

·         31st March 2024 3 Rivers Limited ceased as an employer within the Devon Pension Fund.

·         31st March 2024 Torbay Development Agency tuped all current staff back to Torbay Council.

(d)  New academy conversions and changes.

·         1 April 2024 Shirwell Community Primary School and Georgeham C of E Primary School joined Ventrus Multi Academy Trust.

·         1 June 2024 Bovey Tracey Primary School  joined the Learning Academy Partnership.

·         1 July 2024 Milton Abbot Primary School joined Dartmoor Multi Academy Trust.

The last meeting of the Investment and Pension Fund Committee scheduled for 14 June 2024 was inquorate. Members therefore received a number of reports for information, as listed below (click to follow links to the reports online).  If Members wish to make any comment on any of the Reports listed below, then please let the Clerk know prior to the meeting.

• Devon Pension Board (Minutes of the Devon Pension Board meeting held on 30 April 2024)

• Brunel Oversight Board (Minutes of the Brunel Oversight Board meeting held on 7 March 2024)

• Annual Internal Audit Report 2023/24 (Report of the Director of Finance and Public Value (DFP/24/60))

• Investment Management Report (Report of the Director of Finance and Public Value (DFP/24/61))

• Climate Change and Carbon Footprint (Report of the Director of Finance and Public Value (DFP/24/62))

• Local Government Pension Scheme Update (Report of the Director of Finance and Public Value (DFP/24/64))

• Employer Changes

(Please note that the Annual Training Plan 2024/25 has been brought forward as a substantive item for this meeting of the Investment and Pension Fund Committee as this requires approval from the Committee).

2 December 2024 10.30am

28 February 2025 10.30am (pending move to 3^rd March, to be confirmed)

28 February 2025, 2.15pm (consultative meeting; pending decision by this Committee to move to September 2025)

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 (including the authority holding that information).

Report of the Director of Finance and Public Value (DFP/24/97), attached (confidential).

Report of the Director of Finance and Public Value (DFP/24/98), attached (confidential).