{"document":{"created_at":"2012-01-17T16:55:11Z","document_owner_type":"Meeting","title":["Agenda for Pensions Committee meeting, Jan 24 2012, 7.30PM","Agenda for Pensions Committee meeting, Jan 24 2012, 7.30PM"],"body":"
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Contact: Simon Vernon 020 8871 6038\u00a0 \n\t\t Email:\u00a0svernon@wandsworth.gov.uk\n\t\t\n\t\t

\n\t\t\nItems\n\t\t\nNo.\n\t\t\tItem\n\t\t\n\n\n\t\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t

MINUTES

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1.

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Confirmation - 24th November 2011

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To confirm and sign as a correct record the\nminutes of the previous meeting of the Committee held on 24th\nNovember 2011.

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PERSONAL AND PREJUDICIAL INTERESTS

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2.

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Declarations

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To receive any declarations of personal and\nprejudicial interests in any of the matters to be considered at the\nmeeting.

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PENSION FUND

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3.

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Pension Fund - Award

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To note that the Council\u2019s Pension Fund\nhas been judged to have the most successfully managed\n\u00a3750m-plus pension fund in England and Wales.

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\u00a0

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The authority won fund of the year, for funds\nwith a value of between \u00a3750m and \u00a32bn, at the Local\nGovernment Chronicle (LGC) Investment Awards 2011 held on\nWednesday, 7th December 2011.

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\u00a0

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The Council\u2019s Pension Fund has achieved\nthe best investment returns in its class over three years, improved\ninvestment returns and reduced management fees, the lowest\nadministration costs in London and has the second best solvency\nlevel in England and Wales.

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\u00a0

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The Pension Fund is funded by fixed amounts of\ncontributions from employees and contributions from the Council at\nwhatever level is required to maintain the Fund\u2019s\nsolvency.

\n

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This award provides external recognition and\nvalidation of success. This news offers some comfort for council\ntaxpayers as the Fund is obtaining the best returns at the lowest\ncosts, thus mitigating future demands on council tax to keep the\nfund solvent.

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\u00a0

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4.

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Pension Fund - permitting Council contractors to enter the Local Government Pension Scheme PDF 55 KB

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To consider report by the Director of Finance\non proposals to permit contractors employed by the Council access\nto the Local Government Pension Scheme (Attached \u2013 Paper No.\n12-89)

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5.

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Pension Fund - Knowledge and skills structure. PDF 46 KB

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6.

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Pension Fund - Revenue Budget PDF 60 KB

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EXCLUSION OF PUBLIC

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7.

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To consider passing a resolution in the following terms:-

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\u201cThat under Section 100A(4) of\nthe Local Government Act 1972, the press and other members of the\npublic be excluded from the meeting while item 8 is being\nconsidered, because it is likely that exempt information as\ndescribed in paragraph 3 of Part 1 of Schedule 12A to the Act would\nbe disclosed to them if they were present.\u201d

\n

\u00a0

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[Note:\u00a0 In the\ncircumstances of this case, the matter which is considered relevant\nto maintaining the exemptions in the public interest is that\ndisclosure would result in the publication of commercially\nsensitive information.

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\u00a0

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PENSION FUND (CONT)

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8.

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Pension Fund Investment Performance PDF 15 KB

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","document_owner_id":83274,"updated_at":"2012-02-16T20:12:16Z","url":"http://www.wandsworth.gov.uk/moderngov/ieListDocuments.aspx?CId=502&MId=3815&Ver=4","id":49277,"raw_body":"
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Contact: Simon Vernon 020 8871 6038  \n\t\t Email: svernon@wandsworth.gov.uk\n\t\t\n\t\t

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Items
No.Item
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MINUTES

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1.

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Confirmation - 24th November 2011

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To confirm and sign as a correct record the\nminutes of the previous meeting of the Committee held on 24th\nNovember 2011.

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PERSONAL AND PREJUDICIAL INTERESTS

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2.

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Declarations

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To receive any declarations of personal and\nprejudicial interests in any of the matters to be considered at the\nmeeting.

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PENSION FUND

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3.

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Pension Fund - Award

\n
\n

To note that the Council’s Pension Fund\nhas been judged to have the most successfully managed\n£750m-plus pension fund in England and Wales.

\n

 

\n

The authority won fund of the year, for funds\nwith a value of between £750m and £2bn, at the Local\nGovernment Chronicle (LGC) Investment Awards 2011 held on\nWednesday, 7th December 2011.

\n

 

\n

The Council’s Pension Fund has achieved\nthe best investment returns in its class over three years, improved\ninvestment returns and reduced management fees, the lowest\nadministration costs in London and has the second best solvency\nlevel in England and Wales.

\n

 

\n

The Pension Fund is funded by fixed amounts of\ncontributions from employees and contributions from the Council at\nwhatever level is required to maintain the Fund’s\nsolvency.

\n

 

\n

This award provides external recognition and\nvalidation of success. This news offers some comfort for council\ntaxpayers as the Fund is obtaining the best returns at the lowest\ncosts, thus mitigating future demands on council tax to keep the\nfund solvent.

\n

 

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4.

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Pension Fund - permitting Council contractors to enter the Local Government Pension Scheme \"pdf PDF 55 KB

\n
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To consider report by the Director of Finance\non proposals to permit contractors employed by the Council access\nto the Local Government Pension Scheme (Attached – Paper No.\n12-89)

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5.

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Pension Fund - Knowledge and skills structure. \"pdf PDF 46 KB

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6.

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Pension Fund - Revenue Budget \"pdf PDF 60 KB

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EXCLUSION OF PUBLIC

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7.

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To consider passing a resolution in the following terms:-

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“That under Section 100A(4) of\nthe Local Government Act 1972, the press and other members of the\npublic be excluded from the meeting while item 8 is being\nconsidered, because it is likely that exempt information as\ndescribed in paragraph 3 of Part 1 of Schedule 12A to the Act would\nbe disclosed to them if they were present.”

\n

 

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[Note:  In the\ncircumstances of this case, the matter which is considered relevant\nto maintaining the exemptions in the public interest is that\ndisclosure would result in the publication of commercially\nsensitive information.

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PENSION FUND (CONT)

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8.

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Pension Fund Investment Performance \"pdf PDF 15 KB

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","openlylocal_url":"http://openlylocal.com/documents/49277-Agenda-for-Pensions-Committee-meeting-Jan-24-2012-7-30PM","document_type":"Agenda","precis":"\nAttendance details\nAgenda frontsheet\n PDF 252 KB \nAgenda reports pack\n PDF 423 KB \nContact: Simon Vernon 020 8871 6038\u00a0 \n Email:\u00a0svernon@wandsworth.gov.uk\nItems\nNo.\nItem\nMINUTES\n1.\nConfirmation - 24th November 2011\nTo confirm and sign as a correct record the\nminutes of the previous meeting of the Committee held on 24th\nNovember 2011.\nPERSONAL AND PREJUDICIAL INTERESTS\n2.\nDeclarations\nTo receive any declarations of personal and\nprejudicial interests in any of the matters to be considered ...","status":null}}