Agendas, reports and minutes

Pensions Committee and Board

Date: Thursday, 16 February 2023

Agenda: Read the Agenda

A joint meeting of the Pensions Committee and Pension Board will take place in the Chamber, Council Headquarters, Glenurquhart Road, Inverness on Thursday, 16 February, 2023 at 10.30 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
 
Stewart Fraser
Head of Corporate Governance 
 
 
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 provide some information on the nature of the interest and leave the meeting at the appropriate time.  Advice may be sought from officers prior to the meeting taking place.
 
3. Service Plan 2023/24
    Plana Seirbheis 2023/24
 
There is circulated Report No. PC/1/23 by the Head of Corporate Finance.
 
The Committee is invited to approve the following:-
 
i the Pension Fund Service Plan 2023/24;
ii the new post of Pension Fund Manager to manage risks associated with senior personnel changes (section 6);
iii the Pension Fund proposed staffing structure and budget for 2023/24 (section 6, 7 and 8);
iv budget to support the implementation of Member Self Service (MSS) to improve customer service and process efficiency;
v work plans for the Pensions Board, Pensions Committee and Investment Sub Committee.
 
4. Pension Fund Contributions and Administration 
    Tabhartasan agus Rianachd Maoin Peinnsein
 
There is circulated Report No. PC/2/23 by the Head of Corporate Finance.
 
The Committee is invited to consider the details of the report.
 
5. Draft Annual Audit Plan 2022/23 (External Audit Report)
    Dreachd Phlana Sgrùdaidh Bliadhnail 2022/23 (Aithisg Sgrùdaidh bhon Taobh A-muigh)
 
There will be a verbal report by Audit Scotland on their draft annual audit plan setting out the work they plan to undertake as part of the audit of the pension fund. 
 
6. Internal Audit
    In-Sgrùdadh
 
6a. Highland Council Pension Fund Internal Audit Annual Plan 2023/24
     Plana Bliadhnail In-Sgrùdadh Maoin Peinnsein Chomhairle na Gàidhealtachd 2023/24
 
There is circulated Report No. PC/3/23 by the Strategic Lead (Corporate Audit & Performance).
 
The Committee is invited to approve the 2023/24 Audit Plan.
 
6b. Highland Council Pension Fund Internal Report -  Audit of Pension Fund Contributions 
     Aithisg In-Sgrùdaidh Bliadhnail Maoin Peinnsein Chomhairle na Gàidhealtachd 
 
There is circulated Report No. PC/4/23 by the Strategic Lead (Corporate Audit & Performance).
 
The Committee is asked to consider the content of the report, the audit opinion provided, and to raise any relevant points with the Strategic Lead (Corporate Audit & Performance). PP.28-35
 
7. Risk Management Update 
    Fios às Ùr mu Rianachd Chunnairt
 
There is circulated Report No. PC/5/23 by the Head of Corporate Finance.
 
Members are asked to:-
 
i.  note the updated risk register extract and compliance with the Pension Fund Regulator requirements; and
ii. consider whether any additional risks need to be added to the register.