Wrthi'n llwytho
Does dim crynodeb o'r cyfarfod hwn eto. Caiff un ei ysgrifennu pan fydd y cyngor yn cyhoeddi'r cofnodion. Mae'r agenda a'r papurau isod.
Resolved that Councillor M B Lewis be elected Chair of the Pension Fund Committee for the 2025/26 Municipal year. (Councillor M B Lewis (Chair) presided
Resolved that Councillor P Downing be elected Vice-Chair of the Pension Fund Committee for the 2025/26 Municipal year.
In accordance with the Code of Conduct adopted by the City & County of Swansea, the following interests were disclosed: Councillors P N Bentu, P Downing, M B Lewis, P Rogers and S Pritchard declared personal interests in the agenda as a whole. Officers: K Cobb, J Dong, C Isaac, L John and J Parkhouse declared personal interests in the agenda as a whole.
Resolved that the Minutes of the Pension Fund Committee meeting held on 13 March 2025 be signed and approved as a correct record.
Derwyn Owen, Audit Wales presented the City and County of Swansea Pension Fund – Audit Plan 2025. The report outlined the high level areas and approach Audit Wales would adopt during 2025 to discharge its statutory responsibilities as external auditor and to fulfil its obligations under the Code of Audit Practice to examine and certify whether the Pension Fund accounting statements were ‘true and fair’. It was added that the findings of the audit would be reported in the ISA 260 report in November 2025. It was added that the purpose of the plan was to set out the proposed work, when it would be undertaken, how much it would cost and who would undertake it. The Committee asked questions in relation to the audit fee. The good working relationship between Audit Wales and Council officers was also highlighted. The Chair thanked the Audit Wales representative for providing his report. Resolved that the contents of the report be noted.
Jeff Dong, Deputy Chief Finance Officer / Deputy S151 Officer presented a ‘for information’ report which presented any breaches which had occurred in the period in accordance with the Reporting Breaches Policy. Appendix A provided the details of breaches that had occurred since the Policy had been introduced. Reference was also made to the KPI Target report provided at Appendix B.
The Deputy Chief Finance Officer / Deputy S151 Officer presented a report which sought approval of admitted body status for all employers undertaking school cleaning services, subject to due diligence and the completion of satisfactory admission agreement. It was explained that in order to save the governance budget, it was proposed that the Pension Fund Committee provided blanket approval for school cleaning services admissions, subject to appropriate due diligence and completion of admission agreement being delegated to the Deputy S151 Officer. Resolved that: - 1) Close ended admitted body status for all employers undertaking school cleaning contracts (only) for staff who have TUPE’d across subject to satisfactory due diligence and completion of admission agreement, be approved. 2) The Deputy S 151 Officer be delegated to undertake the due diligence and complete the admission agreement and ultimately approve the admission on an individual employer basis, subject to the same.
The Deputy Chief Finance Officer / Deputy Section 151 Officer provided a report which sought to approve amendments to the published Overpayment and Underpayment of Pension Policy. It was explained that the current Overpayment of Pension Policy was adopted in November 2019 and in accordance with Regulation, the Pension Fund Committee needed to formally adopt the discretions afforded by the Policy. It was added that the Policy, provided at Appendix 1, had been revised in accordance with best practice. The policy provided guidance on the course of action the City and County of Swansea Pension Fund would normally consider when an overpayment or underpayment of pension occurred. Resolved that the Overpayment and Underpayment of Pension Policy, attached at Appendix 1, be approved.
The Deputy Chief Finance Officer / Deputy S151 Officer presented a report which sought to progress implementation of The Wales Pension Partnership (WPP) Fit for the Future Business case approved by Westminster Government. The report outlined the background, executive summary, details of Government approval, LGPS Fit for the Future Government consultation, the WPP Fit for the Future business case, WPP Investment Management Company (WPP IMCo), WPP Annual Business Plan 2025/26 and “Go Live” approvals and documentation. Resolved that: - 1) The WPP Fit for the Future Business Case previously approved by The Pension Fund Committee (Appendix 3, Appendix 4 and section 4), is noted. 2) The formation of a corporate entity wholly owned by the WPP Administering Authorities (AAs) to be the WPP Investment Management Company (IMCo.) and all other actions necessary to submit an application to the Financial Conduct Authority (FCA) for the authorisation of the IMCo. including but not limited to the selection and recruitment of Senior Management Function (SMF) roles as required by the FCA and the preparation and submission of the application to the FCA (Section 5), be approved. 3) The revised WPP Business Plan & budget 25/26 which includes design/enabling costs for Project Snowdon (Appendix 5 and Section 6), be approved. 4) The Deputy S151 Officer be delegated, in consultation with the Pension Fund Committee Chair, to progress Project Snowdon alongside WPP Administering Authorities (AAs), in line with the Government timetable within the approved budget. 5) The approval of the final formal documentation required for IMCo. to be operational, described as “Go Live Work” as outlined in Section 7, be delegated to the Pension Fund Committee, to give effect to The WPP Fit for the Future Business Case.
Rhan o fater a ddilynwyd ar draws 5 cyfarfod
Laura Caudwell, Ben Challinor and Luke Webster, AON provided a presentation on the Pensions Dashboard. Details provided included: - · Introduction to Pensions Dashboards. · Agenda. · What are pensions dashboards and how will they work? · Considerations and concerns. · Key roles and next steps. The Committee asked questions relating to the presentation, which were responded to accordingly. The Chair thanked the AON representatives for their informative presentation.
The Committee was requested to exclude the public from the meeting during consideration of the item(s) of business identified in the recommendation(s) to the report on the grounds that it / they involved the likely disclosure of exempt information as set out in the exclusion paragraph of Schedule 12A of the Local Government Act 1972, as amended by the Local Government (Access to Information) (Variation) (Wales) Order 2007 relevant to the item(s) of business set out in the report. The Committee considered the Public Interest Test in deciding whether to exclude the public from the meeting for the items of business where the Public Interest Test was relevant as set out in the report. Resolved that the public be excluded for the following items of business.
Rhaid i gynghorwyr ddweud pan fydd ganddyn nhw gysylltiad personol â rhywbeth sy'n cael ei drafod, fel swydd, eiddo neu aelod o'r teulu. Mae buddiant sy'n rhagfarnu yn ddigon cryf i'r cynghorydd adael yr ystafell fel arfer a pheidio â chymryd rhan.
Caiff datganiadau eu darllen o'r cofnodion unwaith y byddan nhw wedi'u cyhoeddi.
Yn rhestru cynghorwyr presennol y cyngor yn unig. Nid yw aelodau cyfetholedig, swyddogion a chyn-gynghorwyr yn cael eu dangos.