Agenda

Venue: Guardsman Tony Downes House, Manchester Road, Droylsden, M43 6SF

Contact: Carolyn Eaton, Senior Democratic Services Officer  0161 342 3050 or Email: carolyn.eaton@tameside.gov.uk

Items
No. Item

GENERAL BUSINESS

1.

Chair's Opening Remarks

2.

Apologies for Absence

3.

Declarations of Interest

To receive any declarations of interest from Members of the Panel.

4.

Minutes

4a

Minutes of the Annual General Meeting pdf icon PDF 65 KB

To approve as a correct record the Minutes of the meeting of the Pension Fund Annual General Meeting held on 19 October 2018.

4b

Minutes of the Pension Fund Advisory Panel pdf icon PDF 130 KB

To approve as a correct record the Minutes of the meeting of the Pension Fund Advisory Panel held on 18 January 2019.

4c

Minutes of the Pension Fund Management Panel pdf icon PDF 74 KB

To approve as a correct record the Minutes of the meeting of the Pension Fund Management Panel held on 18 January 2019.

5.

Local Government (Access to Information) Act 1985

5a

Urgent Items

To consider any items which the Chair is of the opinion shall be considered as a matter of urgency.

5b

Exempt Items

The Proper Officer is of the opinion that during the consideration of the items set out below, the meeting is not likely to be open to the press and public and therefore the reports are excluded in accordance with the provisions of the Schedule 12A to the Local Government Act 1972.

 

Items

Paragraphs

Justification

7, 8a, 8b, 9a, 9b, 10, 11,12, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33

3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10  

Disclosure would, or would be likely to prejudice the commercial interests of the Fund and/or its agents which could in turn affect the interests of the beneficiaries and/or tax payers.

 

6.

Pension Fund Working Groups/Local Board Minutes

6a

Local Pensions Board pdf icon PDF 80 KB

To note the Minutes of the meeting held on 14 February 2019.

6b

Policy and Development Working Group pdf icon PDF 63 KB

To consider the Minutes of the meeting held on 8 March 2019.

6c

Investment Monitoring and ESG Working Group pdf icon PDF 69 KB

To consider the Minutes of the meeting held on 21 December 2018.

6d

Administration, Employer Funding and Viability Working Group pdf icon PDF 81 KB

To consider the Minutes of the meeting held on 21 December 2018.

 

 

6e

Property Working Group pdf icon PDF 71 KB

To consider the Minutes of the meeting held on 20 December 2018.

ITEMS FOR DISCUSSION / DECISION

7.

Northern LGPS Update

Report of the Assistant Director of Pensions, Funding and Business Development, attached.

8.

Update on Investment Management Cost Benchmarking

Report of the Assistant Director of Pensions, Investments, attached.

8a

Update on Benchmarking

Report of the Assistant Director of Pensions, Investments, attached.

8b

Presentation On Costs Benchmarking - 'What Gets Measured Gets Managed'

To receive a presentation from John Simmonds, CEM Benchmarking UK Ltd

9.

Review of Investment Management Arrangements

Report of the Assistant Director of Pensions, Investments, attached.  To receive a presentation from William Marshall, Hymans Robertson.

9a

Review of Investment Management Arrangements

Report of the Assistant Director of Pensions, Investments, attached.

9b

Training: Assessing Performance (With Reference to Multi-Asset Credit)

To receive a presentation from William Marshall, Hymans Robertson.

10.

Performance Dashboard

Report of the Assistant Director of Pensions, Investments, attached.

11.

2019 Actuarial Valuation and Related LGPS Developments

Report of the Assistant Director of Pensions, Funding and Business Development, attached

12.

Advisor Comments and Questions

ITEMS FOR INFORMATION

13.

GMPF External Audit Plan 2018-2019 pdf icon PDF 47 KB

Report of the Assistant Director of Pensions, Local Investments and Property, attached.

14.

Pensions Administration Update pdf icon PDF 88 KB

Report of the Pensions Policy Manager attached.

15.

Future Training Dates

Trustee training opportunities are available as follows.  Further information/details can be obtained by contacting Loretta Stowers on 0161 301 7151.

 

PLSA Local Authority Conference, Gloucestershire

13-15 May 2019

The Pensions Age Northern Conference, Leeds

13 June 2019

LGPS Local Pension Board Annual Event

26 June 2019

CIPFA Annual Conference, ICC Birmingham

9 – 19 July 2019

PLSA Annual Conference, Manchester

16-18 October 2019

 

 

 

16.

Dates of Future Meetings

 

Management/Advisory Panel

19 July 2019 (AGM)

18 October 2019

17 January 2020

17 April 2020

Local Pensions Board

13 June 2019

 8 August 2019

11 October 2019

12 December 2019

26 March 2020

Policy and Development Working Group

13 June 2019

19 September 2019

19 December 2019

 6 March 2020

Investment Monitoring and ESG Working Group

12 July 2019

27 September 2019

20 December 2019

20 March 2020

Administration and Employer Funding Viability Working Group

12 July 2019

27 September 2019

20 December 2019

20 March 2020

Property Working Group

13 June 2019

19 September 2019

19 December 2019

6 March 2020

 

Working Papers - Appendices

17.

Appendix 7a - Draft Guidance on Pooling Consultation

18.

Appendix 7b - Pooling Presentation

19.

Appendix 7c - Request to Minister for meeting 08.02.19

20.

Appendix 7d - Northern LGPS response 19.03.19

21.

Appendix 7e - Northern LGPS response 28. 03.19 - QC opinion

22.

Appendix 7f - Local Pension Board response 28. 03. 19

23.

Appendix 7g - GMPF response 28. 03. 19

24.

Appendix 7h - Northern LGPS Press Coverage

25.

Appendix 7i - Northern LGPS JC minutes 22. 11. 18

26.

Appendix 7j - Northern LGPS JC Minutes 28. 01. 19

27.

Appendix 8a - Update on Investment Management Cost Benchmarking

28.

Appendix 8b - Update on Investment Management Cost Benchmarking

29.

Appendix 9a - Review of Investment Management Arrangements

30.

Appendix 9b - Hymans Panel Slides Cash & Bonds

31.

Appendix 10a - Performacne Dashboard

32.

Appendix 11a - 2019 Actuarial Valuation Plan

33.

Appendix 13a - Audit Plan 2018-19