Agendas, reports and minutes

Pensions Committee and Board

Date: Friday, 14 November 2014

Agenda: Read the Agenda

A meeting of the Pensions Committee will take place in the Chamber, Council Headquarters, Glenurquhart Road, Inverness on Friday 14 November 2014 at 10.00 a.m. (Please note the earlier start time for this meeting)

You are invited to attend the meeting and a note of the business to be considered is attached.

Webcast Notice: This meeting will be filmed and broadcast over the internet on the Highland Council website and will be archived and available for viewing for 12 months thereafter.

Yours faithfully


1.  Apologies for Absence
2.  Declarations of Interest
     Foillseachaidhean Com-pàirt

Members are asked to consider whether they have an interest to declare in relation to any item on the agenda for this meeting.   Any Member making a declaration of interest should indicate whether it is a financial or non-financial interest and include some information on the nature of the interest.   Advice may be sought from Officers prior to the meeting taking place. 
3.  Annual Report on the 2013/14 Audit (External Audit Report)
     Aithisg Bhliadhnail mu Sgrùdadh 2013/14 (Aithisg Sgrùdaidh bhon Taobh A-Muigh)

There is circulated Report No. PC/10/14 by Audit Scotland providing a summary of their findings arising from the 2013/14 audit of Highland Council Pension Fund.  The report summarised the auditor’s opinions and conclusions and reported on any significant issues arising from the audit.

The Committee is invited to consider the report. 
4.  Pension Fund Administration
     Tabhartasan agus Rianachd Maoin Peinnsein

There is circulated Report No. PC/11/14 by the Director of Finance which updates Members on matters relating to the administration of the Highland Council Pension Fund.

The Committee is asked to consider the details of the report.  
5.  Internal Audit Reports – Matters arising from the Statement of Internal Control 2013/14 and        Pension Payments
Aithisgean In-sgrùdaidh – Gnothaichean ag èirigh bho Aithris In-Smachd 2013/14 agus Pàighidhean Peinnsein

There is circulated Report No. PC/12/14 by the Head of Internal Audit and Risk Management which provides details of two audits completed since the last report to the Pensions Committee on 14 August 2014.  These audits relate to a review of the systems of internal control operated within the Pension Fund during 2013/14 and Pension Fund Payments 2013/14.  These audits now complete the 2014/15 plan of work for the Pension Fund.

Members are invited to consider the attached Final Reports. 
6.  Discretionary Policies: Employing Authority
     Poileasaidhean Fo Ùghdarras: Ùghdarras Fastaidh

There is circulated Report No. PC/13/14 by the Director of Finance and the Head of People and Performance which reviews the Council’s discretionary policies under the Local Government (Scotland) Pension Scheme 2008 and 2015.

The Committee is asked to agree:

1. the recommendations contained in Appendix 1 of the report;
2. that all policies be reviewed in 2018; and
3. that, in line with the main scheme policy, there be an "opt out" provision allowing reconsideration of any specific discretion if the special circumstances of an individual case merit it. 
7. Investment Sub Committee: Minutes of Meeting
    Fo-chomataidh Tasgaidh: Geàrr-chunntas na Coinneimh

The Minutes of meeting of the Investment Sub-Committee held on 14 August 2014 are circulated for confirmation.