Agendas, reports and minutes

 
A joint meeting of the Pensions Committee and Pension Board will take place in the Chamber, Council Headquarters, Glenurquhart Road, Inverness on Thursday 22 September 2016 at 2.00 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

MICHELLE MORRIS
DEPUTE CHIEF EXECUTIVE/
DIRECTOR OF CORPORATE DEVELOPMENT

BUSINESS

  
1. Apologies for Absence
    Leisgeulan 
  
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. Recess Powers
    Cumhachdan Fosaidh

The Committee is asked to note that the Recess Powers granted by the Council at its meeting on 29 June 2016 have not been used in respect of this Committee. 
  
4. Statement on Internal Control 2015/16 and Internal Audit Plan 2016/17
    Aithris air In-Ùghdarras 2015/16 agus Plana In-Sgrùdaidh 2016/17

There is circulated Report No. PC/04/16 by the Audit and Risk Manager which includes an assessment of the adequacy, reliability and effectiveness of the Council’s system of internal control and provides information for the Pension Fund’s Annual Governance Statement contained within the 2015/16 Statement of Accounts.

In addition, details are provided of the audits being undertaken as part of the 2016/17 Audit Plan which Members are asked to approve.

Members are invited to:-

i.  consider the content of the attached report and the audit  opinion provided, and to raise any relevant points with the  Audit and Risk Manager; and

ii. note the status of this year’s planned audits and to formally  approve the 2016/17 Audit Plan. 
  
5.  Internal Audit Reports – Matters Arising from the Statement of Internal Control 2015/16 and Pension Fund Contributions

There is circulated Report No. PC/05/16 by the Audit and Risk Manager which provides details of the audit work undertaken since the last report to the Pensions Committee and Pension Board on 24 September, 2015.

Members are invited to consider the content of the attached reports and the audit opinions provided, and to raise any relevant points with the Audit and Risk Manager. 
  
6. Pension Fund Contributions and Administration
    Rianachd Maoin Peinnsein

There is circulated Report No. PC/06/16 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:-

i  consider the details of the report; and

ii note the forthcoming Pension Schemes Governance review  being undertaken by the Scottish Public Pensions Agency. 
  
7a  Highland Council Pension Fund Interim Audit Report 2015/16

There is circulated Report No. PC/07/16 by the Senior Audit Manager, Audit Scotland on the Highland Council Pension Fund Interim Audit Report 2015/16.

The Committee is invited to consider the report.

7b  Annual Audit Report to Members of the Pensions Committee and the Controller of Audit
      Aithisg In-sgrùdaidh Bhliadhnail do Bhuill de Chomataidh nam Peinnsean agus Rianadair an Sgrùdaidh

There is circulated Report No. PC/08/16 comprising covering memo and the draft Annual Report on the 2015/16 Audit, by the Senior Audit Manager, Audit Scotland.

The Committee is invited to note the report.

7c  Audited Accounts 2015/16
     Cunntasan Sgrùdaichte 2015/16

The Audited Statement of Accounts (Report No. PC/09/16) for the financial year 2015/16 are available for viewing at the following weblink:-

http://www.highlandpensionfund.org/themes/highland/scheme%20documents/Annual%20Report.pdf

The Director of Finance will respond to any matters arising.

The Committee is invited to approve the accounts. 
 
8. Risk Management Review and Update Report
    Poileasaidh agus Ro-innleachd Rianachd Cunnairt Maoin Peinnsein

There is circulated Report No. PC/10/16 by the Director of Finance which provides an update on the Fund’s risk register and compliance with the Pension Fund Regulator requirements on internal controls.

Members are asked to note the updated risk register extract and compliance with the Pension Fund Regulator requirements.
  
9. Governance Policy Statement
    Aithris Poileasaidh Riaghlaidh

There is circulated Report No. PC/11/16 by the Director of Finance which provides a copy of the Highland Council Pension Fund Governance Policy Statement to Committee for approval.

Members are asked to approve the updated Highland Council Pension Fund Governance Policy Statement to Committee. 
  
10. Training Policy and the CIPFA Knowledge and Skills Framework
      Aithris Poileasaidh Trèanaidh

There is circulated Report No. PC/12/16 by the Director of Finance which sets out an updated training policy for the Highland Council Pension Fund, applying to both officers responsible for supporting the Fund, and members of the Pension Board, Pensions Committee and Investment Sub-Committee.

Members are asked to consider the report and:

i  note the assessment and training resources provided by the Pensions Regulator (section 5);

ii note the adoption of the CIPFA Local Pensions Boards Technical Knowledge and Skills framework (section 6), including the self-assessment matrix (Appendix 2);

iii note the training delivered to date on pension fund matters (Appendix 3); and

iv agree the training policy and programme for 2016/17 set out within the report (para 8.1 and 8.2).
 
11. Highland Council Pension Fund: Monitoring of Retirements
      Maoin Peinnsein Chomhairle na Gàidhealtachd: Sgrùdadh Cluaineis

There is circulated Report No. PC/13/16 by the Director of Finance which provides information relating to retirements from The Highland Council Pension Fund for the year ended 31 March 2016.

The Committee is asked to consider the report. 
  
12. Request for Admitted Body Status
      Iarrtas airson Inbhe Buidhne Ceadaichte

NHS Highland is an Admitted body in the Highland Council Pension Fund. It is the intention of NHS Highland to outsource a small sheltered care provision to the independent sector. If the proposal goes ahead a small number of employees will be TUPE transferred to the successful bidder.

NHS Highland has requested that under Fair deal for Pension provisions, Admitted body status be granted to the successful bidder to safeguard pension continuity for the staff concerned.
The NHS have agreed to act as the Guarantor required in the pension regulations and subject to these financial safeguards being in place Members are asked to approve the application in principle. 
  
13. Investment Sub Committee: Minutes of Meeting
      Fo-chomataidh Tasgaidh: Geàrr-chunntas na Coinneimh

The Minutes of meeting of the Investment Sub-Committee held on 4 March, 2016; 3 June, 2016 are circulated for information and the Minutes of meeting of 2 September, 2016 are circulated for confirmation.