Scottish Borders Council

Agenda and minutes

Venue: Council Chamber, Council Headquarters, Newtown St Boswells

Contact: Judith Turnbull Tel. No. 01835 826556  Email:  judith.turnbull@scotborders.gov.uk

Items
No. Item

1.

Minute pdf icon PDF 62 KB

Minute of Meeting held on 16 June 2016 to be noted and signed by the Chairman. (Copy attached).

Minutes:

There had been circulated copies of the Minute of the Meeting of 16 June 2016.

 

DECISION

NOTED for signature by the Chairman.

 

2.

Matters Arising from the Minute

Minutes:

With reference to paragraph 1.1 of the Minute of the 16 June, it was noted that appointment as Chairman and Vice-Chairman might be subject to change, prior to June 2017, depending on the outcome of the Local Government Election to be held on 4 May 2017.

 

DECISION

NOTED.

 

3.

Joint Meeting of Pension Committee and Pension Board

Consideration of any issues required to be raised.

Minutes:

Mrs Robb referred to KPMG’s Strategic Investment Review and confirmed that any changes to the strategy would be validated by the Actuary prior to implementation.  The Board discussed the alternative strategy and the removal of the currency hedge and agreed the approach recommended by KPMG.  The complexity of the reports presented to the joint meeting was considered and it was noted that Members of the Board appreciated officers’ advice and guidance.  

 

Mrs Robb advised that Board members would receive a copy of the Annual Accounts when updated.  In respect of the Baillie Gifford training event, they would be sent packs which would detail the training sessions they were to attend.    Mrs Robb further advised that the Scottish Public Pensions Agency (SPPA) had requested Board members’ email addresses and they might therefore be consulted on SPPA’s ‘Review Of The Operation Of Governance Arrangements’.

 

The Chairman advised that Mrs Black had left the employment of Scottish Borders Council and Ms Kay Marie Hughes would fill the vacancy on the Board.

 

DECISION

AGREED that Ms Kay Marie Hughes be appointed to the Pension Board.

 

 

4.

Pension Fund Investment Performance Sub-Committee

Minutes:

Mrs Ross, had attended the Pension Fund Investment Performance Sub-Committee as the Pension Board representative, she advised that the alternative strategies suggested by KPMG, had been subject to a detailed discussion.   It was agreed that Mr Campbell replaced Mrs Black as representative on the Pension Fund Investment Sub-Committee.  Mr P Smith was the other Board representative on the Sub-Committee. 

 

DECISION

AGREED that Mr C Hogarth be appointed as Board representative on the Pension Fund Investment Performance Sub-Committee.

 

5.

Pension Board Meetings

Minutes:

With reference to paragraph 3 of the Minute of 16 June 2016, members of the Board advised that the pre-meetings should continue prior to the joint meeting.  There was also a discussion on whether the Pension Board should meet prior to the joint meeting; following the joint meeting, with or without a break;  or, on a different day.  It was agreed that the Board continue to meet immediately following the joint meeting of the Pension Fund Committee and Pension Board.

           

DECISION

AGREED that the Pension Board continue to meet immediately following the joint meeting of the Pension Fund Committee and Pension Board.

 

 

 

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Scottish Borders Council

Council Headquarters Newtown St. Boswells Melrose TD6 0SA

Tel: 0300 100 1800

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