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 Wednesday 1 February, 2017 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. Interim Chair/Cathraiche Eadar-amail

 In the absence of the Chair, the Pensions Committee is invited to appoint an interim Chair for this meeting.    
        
2. Apologies for Absence
    Leisgeulan    
        
3. 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.    
        
4. Annual Audit Plan 2016/17  (External Audit Report)
    Plana Sgrùdaidh Bliadhnail 2016/17 (Aithisg Sgrùdaidh bhon Taobh A-muigh)

There is circulated Report No. PC/01/17 by Grant Thornton which presents their annual audit plan setting out the work they plan to undertake as part of the audit of the pension fund.

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

There is circulated Report No. PC/02/17 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.    
        
6. Statement of Investment Principles 
    Aithris air Prionnsapalan Tasgaidh

There is circulated Report No. PC/03/17 by the Director of Finance which seeks approval on the proposed Statement of Investment Principles for the Highland Council Pension Fund (HCPF). 

The Statement of Investment Principles is prepared as required by the Local Government Pension Scheme (Management and Investment of Funds) (Scotland) Regulations 2010 (No. 233).  

The Committee is invited to approve the Statement of Investment Principles.    
        
7. Risk Management Review and Update Report
    Aithisg Ath-sgrùdaidh agus Ùrachaidh Rianachd Cunnairt

There is circulated Report No. PC/04/17 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.    
        
8. Pension Board Formal Meetings/ Coinneamhan Foirmeil Bòrd nam Peinnsean

In terms of the Local Government Pension Scheme Governance (Scotland) Regulations 2015 the Pension Board may meet separately from the Pension Committee with the agreement of the Pension Committee.

The Pension Board have requested that their meetings held prior to joint meetings of the Pensions Committee and Pension Board be formal meetings and accordingly the Pensions Committee are invited to approve this request.
    
9. Investment Sub Committee: Minutes of Meeting
   Fo-chomataidh Tasgaidh: Geàrr-chunntas na Coinneimh

The Minutes of meeting of the Investment Sub-Committee held on 2 December 2016 are circulated for confirmation.