Apologies were noted as above.

None.

To determine whether there are any additional items of business which by reason of special circumstances the Chair is of the opinion should be considered at the meeting;  the reason(s) for such urgency to be stated.

None.

None.

None.

Councillor Wraith referred to the Additional Voluntary Contribution report.  Councillor Wraith commented that the report had been very well received, and gave his thanks to all involved.

In response to a question from Members G Chapman stated that the potential sale of in-house developed pensions systems to another LGPS administering authority was progressing well, although a definite decision was still awaited.

RESOLVED – That the minutes of the meeting of the Authority held on 16 February 2012 be agreed and signed by the Chair as a correct record.

RESOLVED – That the minutes of the Corporate Planning and Governance Board held on 2 February 2012 be received.

RESOLVED – That the minutes of the Corporate Planning and Governance Board held on 7 March 2012 be received.

The Authority noted its current work programme; and noted that the Annual General Meeting would be held on 14 June 2012.

RESOLVED – That the contents of the report now submitted be noted.

Councillor Wootton commented that Section 41 briefings were very beneficial, and could be used in Council meetings. 

Councillor Lawton gave thanks to officers for the Section 41 briefing, which was circulated to all Section 41 Members.

A report of the Clerk and Treasurer was submitted, which gave a review of the Pensions Advisory Panel meetings that took place during 2011/12.

The Pensions Advisory Panel comprises of six regional Trades Union representatives and six pensioner/deferred member representatives, and had met four times during 2011/12.  An induction meeting was held for the majority of group members in May 2011, with catch-up events for those who could not attend.  Roger Mossman (Unison) had retired during the year.  The deferred member position was filled by Diane Stevenson from 1 November 2011.  All meetings of the Panel were attended by the Chair and Vice Chair of the Authority.

Members noted that the Panel had been running for just over a year. 

G Chapman commented that the Panel would next meet on 17 April 2012.

G Boyington commented that the meetings were useful, and the issues raised may not have been raised elsewhere.

RESOLVED – That the contents of the report be noted.

A report of the Clerk and Treasurer was submitted, proposing amendments to the Authority’s Procedural and Contract Standing Orders.  These were to update officer titles to reflect new management arrangements approved by the Authority in 2011; to provide additional support at Deputy level to the Clerk and Treasurer; to improve the tender handling process; and to take account of legislative changes.

RESOLVED – That the Authority’s Procedural and Contract Standing Orders be amended as outlined in the report.

G Chapman gave a verbal report on the LGPS Reform Proposals Update.  Members noted that the big ticket items were passed over to Government on 13 February 2012; letters had been exchanged to seek clarification on a number of points, and negotiations were progressing to timetable.  The timetable was expected to be a public announcement towards the end of April 2012. 

G Chapman commented that he would be attending a national meeting in London on 9 May 2012, to discuss the proposals put forward.  At a previous meeting he had attended in February 2012, the negotiators from the employers’ side had said there would be an internal consultation amongst senior employers and union officials in early April 2012, leading to the announcement at the end of the month.  It was hoped that there would be a more detailed update to present the next meeting of the Authority.

RESOLVED – That the verbal report be received.

A report of the Clerk and Treasurer was submitted to consider the date for the next Authority and Board Meetings during 2012/13.

B Wilkinson commented that the meeting structure of the Authority and Boards was currently under review, and therefore it was not possible to produce a full cycle of meetings for 2012/13.

M Oades commented that the proposed meeting of the Pensions Advisory Panel on 2 October 2012 clashed with another meeting, and a revised date would be established with the Chair and Vice Chair of the Authority. 

A brief discussion then took place on the aims of the review of the meeting structure, which was essentially to rebalance the work of the Authority and the two Boards.

RESOLVED – That:-

i)            The Authority approved the following meeting dates:-

Corporate Planning and Governance Board        21 June 2012

Investment Board                                              20 September 2012

Pensions Authority                                             11 October 2012

ii)           The revised date for the Pensions Advisory Panel scheduled on 2 October 2012, to be established with the Chair and Vice Chair of the Authority.

iii)          A report setting out future options for the Authority’s governance structure would be submitted to the June 2012 meeting.

CHAIR