LPFA - your pension our worldPension Committee Reports
1 NOVEMBER 2006
Pension Fund Investment Performance 2005/2006
This report presents a background summary to the presentation that will be made to the Committee by a representative from the performance measurement company, WM, who will attend the meeting to comment more fully on performance.
Pension Fund Investment Report to 30 September 2006
This report notes the performance of the Pension Fund for the 6 months to 30 September 2006. The relative risk profiles adopted by each manager are also reported.
The performance of the balanced fund managers (Newton and UBS) are reported separately.
Local Government Pension Scheme (LGPS) - Augmentation Policy
This report seeks to update the Council’s current policy on the augmentation of Local Government Pension Scheme membership and to delegate authority to agree to future cases to the Deputy Chief Executive and Director of Finance and Business Services in consultation with the relevant Director.
22 SEPTEMBER 2006
Private Equity and Hedge Fund Managers
Representatives from London Borough of Bexley’s new private equity and hedge fund managers will be introducing themselves and their companies to Members at this meeting.
This report provides some background information on their appointment and on private equity and hedge fund investments.
New Look Government Pension Scheme 2008 - Consultation on Options
This report considers Bexley’s response to the Government’s consultation paper ‘Where Next? - Options for a new-look Local Government Pension Scheme in England and Wales’ in order to meet the deadline for responses of 29 September 2006.
Admission to the Council's Pension Scheme
This report considers the admission to London Borough of Bexley ’s Pension Scheme of staff to be employed by Thames Innovation Centre Limited as a result of the transfer of Bexley’s business advisory services from Belvedere Business Centre to it. Thames Innovation Centre Limited will accept the transfer, under TUPE regulations, of staff employed by Bexley at the date of transfer. The admission of the body to the Pension Scheme will ensure that the staff’s existing pension rights are maintained and protected.
20 JULY 2006
Pension Fund Investment Report to 31 March 2006
This report notes the performance of the Pension Fund for the 6 months to 31 March 2006. It also provides a detailed performance and asset allocation analysis during the period October 2005 to March 2006. The relative risk profiles adopted by each manager are also reported.
Private Equity and Hedge Fund Managers - Update
This report updates Members with the latest position on the appointment of private equity and hedge fund managers.
Local Authority Pension Fund Forum Update
This report notes the issues considered at the Local Authority Pension Fund Forum (LAPFF) meetings since the last meeting of the Committee.
This report considers the appointment of an actuary to London Borough of Bexley’s Pension Fund in advance of the next triennial actuarial valuation.
Local Government Pension Scheme (LGPS) - Annual Report on Early Retirement 2005/06
This report notes the numbers, costs and savings of early retirements for 2005/06 and assesses the effectiveness of Bexley’s existing early retirement policies.
Instructions are also sought as to whether contributions should be reclaimed from three employees who had their contributions waived after 40 years service. This arises due to changes to the LGPS Regulations.
14 February 2006
Pension Fund Investment Performance
This report notes the performance of the Pension Fund for the 9 months to 31 December 2005. The relative risk profiles adopted by each manager are also reported.
Pension Fund Policy Statements
New regulations require the Pension Fund to publish two statements - a governance policy statement and a communications policy statement. This report puts forward two such statements for approval.
Internal Dispute Resolutions Procedure
This report considers proposals for a revised procedure to resolve disputes under the Local Government Pension Scheme Internal Disputes Resolution Procedure.
Local Government Pension Scheme - Update Report
This report provides an update on the review of the Local Government Pension Scheme that was last reported to the Committee in November 2005.
Local Authority Pension Fund Forum
This report presents a summary of the issues considered by the Local Authority Pension Fund Forum (LAPFF) over the last year.
23 November 2005
Pension fund investment performance 2004/2005
This report presents a background summary to the presentation that will be made to the Committee by a representative from the performance measurement company, WM, who will attend the meeting to comment more fully on performance.
Statement of investment principles - Update
The Statement of Investment Principles will require updating for the decisions made on the asset liability study report on this agenda. The opportunity has been taken to make some other minor updating amendments.
Appointment of investment advisor
This report informs the Committee that the current independent advisor on investment matters Mr Mike Reid has taken early retirement. As the current agreement expires on 31 March 2006 it is proposed that Mr Reid’s nominee at Mercer Investment Consulting, Ms Fiona Dunsire takes his place until the end of the agreement. A tendering exercise will then be undertaken for the future.
Local government pension scheme (LGPS) - Annual report on early retirement 2004/05
This report notes the numbers, costs and savings of early retirements for 2004/05 and assesses the London Borough of Bexley’s early retirement policies. It also updates Bexley’s Financial Terms for Redundancy and Early Retirement in order to meet legislative requirements.
This report summarises the results of the asset liability study carried out following the results of the last actuarial valuation. The study recommends a revised asset allocation for the fund, including investment in two new asset classes.
8 June 2005
Administration - update
This report updates the Committee on recent developments affecting the Local Government Pension Scheme (LGPS) and administration in Bexley.
Local government pension scheme augmentation of membership
This report considers the augmentation of pension membership for eight employees to make good the shortfall in pensionable service following their transfer to Bexley in January 2004.
Local authority pension fund forum update
This report highlights the issues considered at the Local Authority Pension Fund Forum (LAPFF) meetings since the last meeting of the Committee.
Pension fund investment report to 31 March 2005
This report notes the performance of the Pension Fund for the 6 months to 31 March 2005. It also provides a detailed performance and asset allocation analysis during the period October 2004 to March 2005. The relative risk profiles adopted by each manager are also reported.
Urgent action response to consultation
This report informs the Committee of urgent action taken by the Director of Finance and Business Services, in consultation with the Chair of the Committee, in relation to consultation on revoking legislation.
8 February 2005
Pension fund - actuaria valuation
This report notes that the Actuary’s report on the triennial actuarial valuation of London Borough of Bexley’s pension fund was received at the end of January and summarises the outcome of the valuation. It also proposes a Funding Strategy Statement for adoption, and suggests that an asset/liability study be carried out following on from the actuarial valuation. Report 31 Jan 2005.
Local authority pension fund forum update
This report highlights the issues considered at the Local Authority Pension Fund Forum (LAPFF) meetings since the last meeting of the Committee.
It also considers Bexley’s voting policy on corporate and social responsibility issues.
Local government pension scheme - update
This report updates the Committee on recent developments affecting the Local Government Pension Scheme (LGPS)
25 November 2004
Admission to the council's pension scheme
This report considers the admission to London Borough of Bexley’s Pension Scheme of staff to be employed by Inspire Community Trust as a result of the transfer of Bexley’s physical and sensory impairment services to it. Inspire Community Trust will accept the transfer, under TUPE regulations, of staff employed by Bexley at the date of transfer. The admission of the body to the Pension Scheme will ensure that the staff’s existing pension rights are maintained and protected.
Commission recapture and stock lending
This report sets out proposals to reduce the level of commission paid by the Pension Fund to brokers for the buying and selling of shares and to generate additional income from stock lending.
Pension fund investment performance 2003/2004
This report presents a background summary to the presentation that will be made to the Committee by a representative from the performance measurement company, WM, who will attend the meeting to comment more fully on performance.
Pension fund investment report to 30 September 2004
This report notes the performance of the Pension Fund for the 6 months to 30 September 2004. The relative risk profiles adopted by each manager are also reported. The proposed new arrangements for UBS’ custody service are explained.
2 June 2004
Admission to the council's pension scheme
This report considers the admission to London Borough of Bexley’s Pension Scheme of further staff to be employed by Bexley Business Academy as a result of the transfer of Council services.
Local government pension scheme (LGPS) - annual report on early retirement 2003/04
This report notes the numbers, costs and savings of early retirements for 2003/04 and assesses Bexley’s early retirement policies. It also confirms Bexley’s Financial Terms for Redundancy and Early Retirement in order to meet legislative requirements.
Local authority pension fund forum update/member training
This report highlights the issues considered at the Local Authority Pension Fund Forum (LAPFF) meetings since the last meeting of the Committee.
It also considers Member attendance at the LAPFF conference and Member training on pensions issues generally.
Pension fund investment report to 31 March 2004
This report notes the performance of the Pension Fund for the 6 months to 31 March 2004. It also provides a detailed performance and asset allocation analysis during the period October 2003 to March 2004. The relative risk profiles adopted by each manager are also reported.
Local government pension scheme - death grant payment
This report informs the Committee of urgent action taken by the Director of Finance and Business Services, in consultation with the previous Chair of the Committee, in relation to the payment of a death grant.