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Summary

The council meeting focused on the governance of Brent's pension board, discussing various administrative and policy matters pertinent to the pension fund. Key topics included the pension administration report, training requirements, and updates to discretionary policies.

  1. Pension Administration Report: The board reviewed the pension administration's quarterly performance, noting improvements in help desk response times and overall case work compliance. Concerns were raised about the high number of complaints and below-target performance metrics for retirements. The implications are significant for member satisfaction and operational efficiency, necessitating continued monitoring and potential strategic adjustments.

  2. Training Requirements: The board emphasized the importance of completing the LGPS Online Learning Academy modules to comply with regulatory standards and improve board effectiveness. Delays in training completion were acknowledged, with commitments to increase reminders and support for members. This decision underscores the board's commitment to governance excellence and regulatory compliance.

  3. Discretionary Policies Update: Updates to the discretionary policies were approved, providing clearer guidelines on how discretions are applied in pension administration. This aims to ensure fairness and consistency in decision-making, reducing potential legal challenges and enhancing the transparency of the pension scheme's operations.

An interesting point in the meeting was the discussion on the new pass-through policy for handling pension-related costs in contracts, which could significantly streamline processes and reduce administrative burdens. This policy reflects a strategic shift towards more efficient contract management.

Attendees

Profile image for CouncillorSandra Kabir
Councillor Sandra Kabir  Labour •  Queensbury
Profile image for CouncillorAjmal Akram
Councillor Ajmal Akram  Labour •  Wembley Hill

Topics

No topics have been identified for this meeting yet.

Meeting Documents

Agenda

Agenda frontsheet Monday 25-Mar-2024 18.00 Pension Board

Reports Pack

Public reports pack Monday 25-Mar-2024 18.00 Pension Board

Additional Documents

Local Government Pension Scheme Update
Appendix 4 - LGPC Bulletin February 2024
Members Learning and Development
Appendix 1 - LGPC Bulletin November 2023
Appendix 2 - LGPC Bulletin December 2023
Appendix 5 - SAB Guidance on Academy Conversions
Appendix 3 - LGPC Bulletin January 2024
DRAFT Pension Board Minutes - 8 November 2023
Pension Administration Update
Appendix 1 Quarter 3 Brent Pension Fund Administration Report
Appendix 2 - Brent Pension Fund Training Plan
Appendix 1 - Funding Update at 31 December 2023
Appendix 1 Risk Register
Appendix 2 Risk Strategy
Pass-Through Policy
DLUHC Consultation Outcome on LGPS Investments and TPR General Code of Practice
Appendix 1 - Pass-Through for New Contractors Discussion Document
Administering Authority and Employing Authority Discretions
Appendix 1 - Administering Authority Discretions
Risk Register
Appendix 2 - Employing Authority Discretions Template
Appendix 3 - How to Exercise Discretion
H2 2023 Investment Monitoring Report
LAPFF Engagement Report
Appendix 1 - LAPFF Quarterly Engagement Report Q3 2023
Appendix 2 - LAPFF Quarterly Engagement Report Q4 2023
Appendix 1 - Hymans Robertson Results of the Consultation on LGPS Investments - Next Steps
Appendix 1 - Training Content and Learning Schedule
Appendix 3 - Brent Pension Fund Training Strategy
Appendix 2 - Pass-Through Table