Agenda and draft minutes
Venue: via Microsoft Teams
Contact: William Mohieddeen Tel: 01835 826504; Email: william.mohieddeen@scotborders.gov.uk
No. | Item |
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Joint Meeting of Pension Committee and Pension Board Consideration of any issues required to be raised. Minutes: Members discussed the
performance of the Pension Fund as presented in the Annual
Report. A concern was raised around the
possible transfer of Council staff to other organisations, the
Pension and Investment Manager explained that there was a
requirement to ensure staff had the equivalent Pension rights and
this usually resulted in the staff undergoing the TUPE process remaining within the LGPS and at that time new employers being admitted
to the Fund, if they were not already, as in the case with
CGI. With regards to the impact of
staff that undergo the TUPE process,
the HR Shared Services Manager explained that staff who had
recently transferred from care services through the TUPE process had transferred to the new
employer’s pension scheme. This
is the first TUPE transfer from the
Council whereby transferred staff had not remained members of the
Scottish Borders Council pension fund.
The Pension and Investment Manager clarified that the Fund although
in a cashflow negative position from
the activities of the members had taken action previously to
diversify its assets into areas which provide a cash income which
ensure the Fund has cash available to meet its requirements without
having to disinvest assets. |
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Date of Next Meeting The next meeting is scheduled to be held on 14 December 2021. Minutes: The date of the next Meeting of the Pension Board is 14 December 2021. |