Agendas, reports and minutes

Pensions Committee and Board

Date: Thursday, 19 February 2015

Agenda: Read the Agenda

A meeting of the Pensions Committee will take place in the Chamber, Council Headquarters, Glenurquhart Road, Inverness on Thursday 19 February 2015 at 1.30 p.m.

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. The Highland Council Pension Fund - Actuarial Valuation as at 31 March 2014
Maoin Pheinnsein Chomhairle na Gàidhealtachd – Luachadh Actuaraidh mar aig 31 Màrt 2014

Mr Richard Warden of Hymans Robertson will be in attendance to give a presentation on the Actuarial Valuation Report. 
4. Funding Strategy Statement
Aithris Ro-innleachd Mhaoineachaidh

There is circulated Report No. PC/01/15 by the Director of Finance which seeks approval from Members on the proposed Funding Strategy Statement for the Highland Council Pension Fund.

The Committee is invited to approve implementation of the Funding Strategy Statement with effect from 1 March 2015. 
5. Annual Audit Plan 2014/15  (External Audit Report)
Plana Sgrùdaidh Bliadhnail 2014/15 (Aithisg Sgrùdaidh bhon Taobh A-muigh)

There is circulated Report No. PC/02/15 by Audit Scotland which presents their annual audit plan setting out the work they plan to undertake as part of the audit of the pension fund.

The plan mainly focuses on the audit of the financial statements and the risks associated with that.

The Committee is invited to consider the report. 
6. Pension Fund Administration
Rianachd Maoin Peinnsein

There is circulated Report No. PC/03/15 by the Director of Finance which updates Members on matters relating to the administration of the Highland Council Pension Fund.

The Committee is invited to consider the details of the report and approve the application for Admitted Body status. 
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 November 2014 are circulated for confirmation.