Committees

A meeting of the Pensions Committee will take place in the Chamber, Council Headquarters, Glenurquhart Road, Inverness on Friday, 21 February, 2014 at 10 a.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

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.  Local Government Pension Scheme Reform Update Presentation
Taisbeanadh le Fios às Ùr mu Ath-leasachadh Sgeama Peinnsein Ùghdarrais Ionadail

There will be a presentation by representatives of Hymans Robertson, the Fund’s Actuary, providing an update on Local Government Pension Scheme reform.

4.  2014 Actuarial Valuation Presentation
Taisbeanadh Luachaidh Actuaraidh 2014

There will be a presentation by representatives of Hymans Robertson, the Fund’s Actuary, providing an overview of the process, timetable and key issues relating to the 2014 actuarial valuation of the Fund.

5.  Local Government Pension Scheme Governance Consultation – Fund Response 
Freagairt Co-chomhairle Riaghlaidh mu Sgeama Peinnsein Ùghdarrais Ionadail

There is circulated Report No. PC-1-14 (406kb pdf) by the Director of Finance setting out the consultation response submitted to Scottish Government in relation to new governance arrangements for Local Government Pension Schemes.  Responses will be used to inform the drafting of new regulations on governance arrangements.

Members are asked to note the governance consultation response submitted.

6.  Pension Fund Administration Update Report
Tabhartasan agus Rianachd Maoin Peinnsein

There is circulated Report No. PC-2-14 (142kb pdf) by the Director of Finance which is a periodic report on matters relating to the administration of the Highland Council Pension Fund.

The Committee is asked to consider the details of the report, and agree that the termination costs for Torvean Golf Club, outlined in paragraph 3.3 are not to be pursued.

7.  Discretionary Policies – Administering Authority
Ath-sgrùdadh air a Bhith a’ Cur an Gnìomh Phoileasaidhean fo Ùghdarras Ùghdarrasan

There is circulated Report No. PC-3-14 (272kb pdf) by the Director of Finance in relation to a review of the Council’s discretionary policies under the Local Government (Scotland) Pension Scheme 2008.

Members are asked to agree:-

i. the recommendations contained in Appendix 1 of the report;
ii. that all policies be reviewed in 2018; and
iii. 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.

8.  Investment Sub Committee: Minutes of Meeting
Fo-chomataidh Tasgaidh: Geàrr-chunntas na Coinneimh

There is circulated for confirmation, Minutes of meeting of the Investment Sub-Committee held on 14 February 2014 (96kb pdf).