8 WYPF FINANCE REPORT 
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The report of the Director, West Yorkshire Pension Fund (Document “C”) will be submitted to the Joint Advisory Group and presents the WYPF 2021/22 financial outturn, financial and service performance and the draft 2021/22 annual report and accounts (WYPF accounts). The Local Government Pension Scheme Regulations 2013 (LGPS Reg 2013), Regulation 57 specifies that:
1. An annual report must be prepared each year ending 31 March.
2. The annual report must be published by 1st December following the year end.
3. In preparing and publishing the annual report, WYPF must have regard to guidance from the Secretary of State and use best practice.
Recommended –
1. JAG note the content of the annual report and account and suggest any improvements.
2. JAG note the financial and service performance.
(Ola Ajala – 01274 434534)
Additional documents:
Decision:
Resolved –
That the content of the annual report, including the financial and service performance, be noted.
Action: Director, West Yorkshire Pension Fund
Minutes:
The Director, West Yorkshire Pension Fund submitted a report (Document “C”) which presented the WYPF 2021/22 financial outturn, financial and service performance and the draft 2021/22 annual report and accounts (WYPF accounts). The reported revealed that the Local Government Pension Scheme Regulations 2013 (LGPS Reg 2013), Regulation 57 specified that:
1. An annual report must be prepared each year ending 31 March.
2. The annual report must be published by 1st December following the year end.
3. In preparing and publishing the annual report, WYPF must have regard to guidance from the Secretary of State and use best practice.
Members referred to the recurring issue of recruitment and retention. It was noted that there was a continued underspend on staffing budgets and concern was expressed about the pressure on staff whilst work was expanding.
A Member questioned the number of employers quoted in the report as an increase of 40 since March 2021 contradicting previous information. It was confirmed that numbers do change but that figure was correct.
Members felt that the information in the report was only relevant when compared to liabilities and questioned if an interim funding update at 31 March 2022 was to be provided. It was confirmed that the update would be provided shortly.
Resolved –
That the content of the annual report, including the financial and service performance, be noted.
Action: Director, West Yorkshire Pension Fund
