The Pensions and Investments Committee of Derbyshire County Council was scheduled to discuss the Derbyshire Pension Fund Complaints Policy, the Fund's Risk Register, and the ongoing process of Local Government Pension Scheme investment pooling. The meeting also included a review of the minutes from the previous meeting and arrangements for the exclusion of the public for certain agenda items.

Derbyshire Pension Fund Complaints Policy

The committee was scheduled to consider an updated Derbyshire Pension Fund Complaints Policy. This policy aims to ensure that all complaints received from scheme members are handled promptly, respectfully, and consistently. The proposed updates incorporate provisions for members to submit complaints relating to the Fund's response to requests for information submitted to the Pensions Dashboards Programme (PDP). The PDP is a government initiative designed to provide individuals with a consolidated view of their pension information. The report recommended that the Committee approve the draft updated policy.

Risk Register

A review of the Derbyshire Pension Fund's Risk Register was scheduled. This register identifies key risks to the achievement of the Fund's objectives, assesses their impact and probability, and outlines mitigation controls. The report highlighted four high-risk items: systems failure/cybercrime attack, underperformance of investment returns from LGPS Central Limited, insufficient cyber-liability insurance, and the impact of the McCloud judgement on administration. The register also details proposed further controls and procedures to mitigate these risks. The committee was asked to note the risk items identified in the register.

Local Government Pension Scheme Investment Pooling

The committee was scheduled to receive an update on the Local Government Pension Scheme (LGPS) investment pooling, specifically concerning the Derbyshire Pension Fund's participation in LGPS Central Limited. This agenda item included a review of the Fund's response to a Ministry for Housing, Communities and Local Government (MHCLG) technical consultation on draft regulations implementing the Fit for the Future proposals. These proposals aim to strengthen LGPS governance and mandate greater asset pooling. The committee was asked to approve updated terms of reference for the Pensions and Investments Committee to reflect these proposed changes and to authorise the Director of Legal and Democratic Services to enter into necessary legal agreements related to the Fund's participation in the LGPS Central Pool. The report also detailed the Fund's current investments within LGPS Central Limited vehicles and other collaboratively procured arrangements, indicating that 71% of total Fund assets were invested in these pooled arrangements.

The committee was also scheduled to consider the Local Government Pension Scheme Investment Pooling report, which included appendices detailing the Pension Fund's response to the MHCLG consultation and draft updated terms of reference for the committee.