Mike Jackson

Joint Pensions Committee

Agenda

The committee discussed a consultation from the Department for Levelling Up, Housing & Communities on the future of the Local Government Pension Scheme in England and Wales. The committee approved the minutes of the previous meeting and noted the minutes of the Local Pension Board. The committee also approved, with minor amendments, the Wandsworth Pension Fund communication policy.

Council

Agenda

The Council voted to note a report about an increase to Councillor allowances for information and approved a motion celebrating the Council's success in supporting social workers. The Council also voted against motions to exempt or compensate charities for the rise in Employer National Insurance Contributions, and to condemn the Council for failing to take action to end the protest on Riverside Walk in Nine Elms. The Council voted to accept a Conservative amendment to a Labour motion on compassion at Christmas.

Local Pension Board

Agenda

This meeting included several reports on the work that has been done since the last meeting, including the approval of the 2023/24 accounts and the Pension Fund Annual Report, the Pension Discretions Policy and the training of the Joint Pensions Committee. It also included the consideration of reports on risk management, pension administration, ethical investment decisions, and a report on the matters discussed in a recent meeting of the Joint Pensions Committee.

Council

Agenda

The meeting began with a recitation of the Quran by the Mayor's Faith Leader, Ali Jafri. The Council then approved an update to the council's capital spending plans, despite some abstentions from Conservative councillors. Two motions were then considered. The first, proposed by the Labour administration, was a general statement in support of children's safety and wellbeing and was passed despite opposition from the Conservative group. The second, proposed by the Conservatives, expressed concern at the loss of winter fuel payments for many pensioners and called on the Council to take steps to provide for those affected. This motion was defeated, with the Conservatives voting in favour and Labour against. The meeting concluded with the reception of reports from several committees.

Joint Pensions Committee

Agenda

The committee received a petition from Wandsworth Friends of Palestine requesting that the council divest from companies that invest in Israel. After hearing from the petitioners and officers, it was decided to ask officers to evaluate options for responding to the petition and report back to a future meeting. The committee also reviewed the Pension Fund Annual Report, quarterly investment performance report, and received an update on several general matters including the pooling of bond investments and the proposed merger of the Nuveen UKPF fund.