North Yorkshire Council

Pension Board

6 April 2023

Progress on issues raised by the Board

Report of the Assistant Chief Executive (Legal and Democratic Services)

1.0 Purpose of the report

1.1       To advise Members of:-

· Progress on issues raised at previous meetings;

· Issues that may have arisen, relating to the work of the Board, since the previous meeting

2.0       Background

2.1       This report is submitted to each meeting listing the Board’s previous Resolutions where further information is to be submitted to future meetings. The table below represents the list of issues which were identified at previous Pension Board meetings and which have not yet been resolved.

	Date	Minute No and subject	Resolution/Action	Comment/completed
	3 October 2019 – ongoing – delayed by COVID 19	Minute no 223 – Governance of the Fund/ Minute no 231 (b) – progress on Issues raised / Minute no 289(b) -– progress on Issues raised	Hymans Robertson Report on Good Governance in the LGPS – Members raised concerns regarding the potential for the creation of new local authority bodies and joint committees to oversee the LGPS, which had been raised as part of this study/consultation.	Members agreed to monitor developments in relation to any potential changes to governance arrangements from the Scheme Advisory Board, going forward. Advice is still awaited in relation to this matter. The issue was now progressing with the final implications awaited.
	7 April 2022 - ongoing	Minute No. 344 - Border to Coast’s Responsible investment Policies	It would be appropriate to indicate timeframes for implementation of policies by fund managers, following engagement, rather than this being left open ended.	BCPP was in a strong position to influence companies and would ensure that this influence was maximised going forward with details would be fed back into the Board. This matter will be considered at today’s meeting.
	7 April 2022 - ongoing	Minute No. 346 - Business Plan, Budget 2022/23 and Cashflow	The Triennial Valuation (TV) process was now underway.	Towards the end of the TV process a presentation be provided to both the Board and PFC on the impact on liabilities and investments. Details are included within the Administration Report that will be considered at today’s meeting.
	12 January 2023	Minute No. 33 – Review of Terms of Reference	The Terms of Reference for the Board would require a revision to take account of the LGR which would be implemented on 1 April 2023	Details of the revised Terms of Reference, agreed by Full County Council on 22 February 2023, are included for consideration at today’s meeting.
3.0      Recommendation
3.1      That the report be noted and further action be undertaken where required.
Barry Khan Assistant Chief Executive (Legal and Democratic Services) County Hall Northallerton Report Author – Steve Loach – March 2023 Background Documents – None