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There is no summary of this meeting yet. One is written once the council publishes the minutes. The agenda and papers are below.
In accordance with the Code of Conduct adopted by the City & County of Swansea, the following interests were disclosed: Councillor C R Doyle, Councillor S A Knoyle, R Broad and R Thomas declared personal interests in the agenda as a whole. Officers: K Cobb, J Dong, J Parkhouse and S Williams declared personal interests in the agenda as a whole.
Resolved that the Minutes of the Local Pension Board meeting held on 8 January 2025, be approved and signed as a correct record.
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.
Deputy Chief Finance Officer / Deputy S151 Officer presented a ‘for information’ report which provided the working framework for the Pension Fund’s programme of work for 2025/26. It was outlined that in line with best practice, the Pension Fund produced a business plan, risk register, budget and asset allocation to inform its work programme for the forthcoming 12-month period. The business plan, budget, risk register, asset allocation for 2024/25 were provided at Appendices 1,2,3 and 4. It was added that the Pension Fund Committee had approved the following at its meeting held on 12 March 2025: - 1) The City & County of Swansea Pension Fund Annual Business Plan 2025/26. 2) Risk Register 2025/26. 3) Asset Allocation. 4) Budget 2025/26.
Part of an issue followed across 6 meetings
The Deputy Chief Finance Officer / Deputy S151 Officer presented a ‘for information’ report which provided the annual training programme for Pension Fund Committee and Local Pension Board members and officers of the Pension Fund. It was added that on 12 March 2025 Pension Fund Committee had approved that the assessment and outline training plan in paragraphs 3.7, 3.8 and 3.9 of the report and further opportunities identified during the year, be delegated to the Deputy Section 151 Officer for approval.
Part of an issue followed across 2 meetings
The Deputy Chief Finance Officer / Deputy S151 Officer presented a ‘for information’ report which outlined the decision of the Pension Fund Committee on 12 March 2025 to approve changes to the current staffing levels with the aim of addressing scheme administration challenges and Regulatory changes to ensure that the structure is fit for purpose to meet the objectives of the fund. The Committee approved the resourcing and budgetary additions identified in 5.4 of the report.
The Board 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 Board 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. (Closed Session)
Councillors must say when they have a personal link to something being discussed, such as a job, a property or a family member. A prejudicial interest is one strong enough that the councillor usually leaves the room and takes no part.
Declarations are read from the minutes once they are published.
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