A training session will be presented by the Head of Pensions outlining the latest position on investment pooling and the current work undertaken by the Brunel Pension Partnership.
A paper is also circulated which outlines the response template to the Government’s consultation on investment pooling from the Brunel Pension Partnership as approved by the Wiltshire Pension Fund Committee.
The Board is asked to note the joint submission of the Brunel Pension Partnership as the Fund’s detailed proposal to the Government’s consultation on investment reforms approved by the Wiltshire Pension Fund Committee on 30 June 2016.
Minutes:
Members were updated on the submission of the Brunel Pension Partnership’s proposal to the Government’s consultation on investment reforms.
Resolved:
To note the update and the joint submission of the Brunel Pension Partnership as the Fund’s detailed proposal to the Government’s consultation on investment reforms approved by the Wiltshire Pension Fund Committee on 30 June 2016.
To endorse the need for an independent review of the Brunel Pension Partnership Business Case and to recommend that overall risks of the new manager are reviewed.
To recommend that further detail is provided in the Business Case on the member and employer representation in the governance arrangements of the new pool.
To recommend that a low-cost exit strategy for the Fund is negotiated and that detail be provided on the process of transferring to a new pool.
To recommend that external resource is recruited to support asset pooling as necessary.