Agenda and minutes

Pensions Advisory Panel - Monday 6 March 2023 10.30 am

Venue: Meeting Room 225 - 160 Tooley Street, London SE1 2QH. View directions

Contact: Andrew Weir 

Items
No. Item

1.

Apologies

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    To receive any apologies for absence.

    Minutes:

    There were no apologies.

2.

Confirmation of voting members

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    Voting members of the committee to be confirmed at this point in the meeting.

    Minutes:

    Councillor Stephanie Cryan, Councillor Andy Simmons, Councillor Rachel Bentley and Caroline Watson were confirmed as voting members.

     

    Everyone introduced themselves.

3.

NOTIFICATION OF ANY ITEMS OF BUSINESS WHICH THE CHAIR DEEMS URGENT

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    Minutes:

    There were none.

4.

DISCLOSURE OF INTERESTS AND DISPENSATIONS

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    Members of the committee to declare any interests and dispensation in

    respect of any item of business to be considered at this meeting.

    Minutes:

    There were none.

5.

Minutes

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    To agree as correct record, the open minutes of the meeting held on 5 December 2022.

    Supporting documents:

    Minutes:

    That the minutes of the meeting held on 5 December 2022 be agreed as a correct record, with the minor amendment that Roger Stocker was present.

6.

Asset Allocation December 2022

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    Supporting documents:

    Minutes:

    Jack Emery, Divisional Accountant - Pensions and Investments presented the report.

     

    There were questions on the report and a discussion.

     

    RESOLVED:

     

    That the fund’s asset allocation at 31 December 2022 be noted.

     

7.

Carbon Footprint Update - 31 December 2022

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    Supporting documents:

    Minutes:

    Jack Emery presented the report.

     

    There were questions on the report and a discussion.

     

    RESOLVED:

     

    That the fund’s carbon footprint at 31 December 2022 be noted.

     

8.

Quarterly Investment Update

9.

Revised Investment Strategy Statement

10.

Zero Carbon Investment Strategy: Implementation Progress Update

11.

Cash Flow Management Policy

12.

Draft Conflict of Interest Policy

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    Supporting documents:

    Minutes:

    Geraldine Chadwick introduced the report.

     

    There were questions and debate on the report.

     

    Officers undertook to circulate the updated policy. 

     

    Officers undertook to bring the item back in June 2023 with a legal concurrent.

     

    Officers undertook to reframe the policy to confirm that members referred to all members of PAP, including officers, and not just elected members.

     

    RESOLVED:

     

      The panel deferred this item until June 2023.

     

13.

Pension Services - Administration Function Update

14.

Local Pension Board Update

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    Supporting documents:

    Minutes:

    Mike Ellsmore introduced the report.

     

    There were no questions.

     

    RESOLVED:

     

      That the panel note the report.

15.

Minutes

    To agree as correct record, the closed minutes of the meeting held on 5 December 2022.

     

Minutes:

The closed minutes of the meeting on were agreed as a correct record.

16.

Quarterly Investment Update

Minutes:

There was no debate.

 

RESOLVED:

 

The panel noted the report.