Agenda and draft minutes

Resolved:

That the Minutes of the meeting held on 24 May 2024, having been printed and circulated, be taken as read and be confirmed and signed by the Chairman as a correct record.

Councillor George Jabbour declared a non-registrable interest, having campaigned on issues involving the way public-sector organisations, pension funds, and other institutions manage their finances. 

The following Members declared a non-registerable interest in respect of them being in receipt of a pension from the North Yorkshire Pension Fund (NYPF):

·         Councillor John Cattanach

·         Councillor Cliff Lunn.

Members of the public may ask questions or make statements at this meeting if they have given notice (including the text of the question/statement) to Edward Maxwell of Democratic Services (contact details at the foot of page 1 of the Agenda sheet) by midday on Tuesday 25^th June 2024.  Each speaker should limit themselves to 3 minutes on any item.  Members of the public who have given notice will be invited to speak:-

•           at this point in the meeting if their questions/statements relate to matters which are not otherwise on the Agenda (subject to an overall time limit of 30 minutes);

•           when the relevant Agenda item is being considered if they wish to speak on a matter which is on the Agenda for this meeting.        

If you are exercising your right to speak at this meeting, but do not wish to be recorded, please inform the Chairman who will instruct those taking a recording to cease while you speak.

There were none.

The Head of Pensions Administration presented a report, reviewing a range of governance documents and seeking the committee’s approval of them.  The following information was added to the report:

·         Members heard that the Risk Register was updated every six months, but the most recent update had taken place after the publication of the agenda for this meeting, so it would be taken to the next meeting of the committee in September.

·         Appendix 18 (NYPF Draft Statement of Accounts) had originally intended to be distributed as a supplementary document after the publication of the agenda, with a recommendation to note its contents.  However, delays to the 2022/23 accounts and ongoing capacity issues had delayed this item, and officers reported that it would be circulated to members at a later date.

Resolved:

That:

a)    The changes made to the governance documents listed at 5.1 of the report be approved.

b)    That the contents of the Risk Management Policy (Appendix 6) be noted.

The Head of Pensions Administration presented a report which updated the committee on the NYPF’s compliance with the Pension Regulator’s new General Code of Practice.  Aon’s compliance checker tool had been used to assess progress on compliance with the new code since its introduction in March 2024, identifying areas where further work was needed.

The following information was added to the report after questions from members:

·         It was intended to provide regular updates to the committee on compliance with the new Code of Practice.

·         Members noted the generally positive position of the fund in complying with the code, and the feedback received during a recent briefing session with Aon.  Areas of further work to improve compliance had been noted in the report, and officers were actively progressing these.

Resolved:

That the report be noted.

The Pension Employer Relationship Manager presented a report advising members of a request from Veritau Limited seeking approval to become a community admission body in the Fund for a new Teckal company, Veritau Public Sector Limited.  Members were asked to consider the report and decide whether to approve the request.

Resolved:

That the request be approved.