Agenda and decisions

West Yorkshire Pension Fund Pension Board
Tuesday, 14th September, 2021 10.30 am

Venue: Aldermanbury House, 4 Godwin St, Bradford, BD1 2ST

Contact: Jane Lythgow/Su Booth 

Items
No. Item

1.

DISCLOSURES OF INTEREST

(Members Code of Conduct - Part 4A of the Constitution)

 

To receive disclosures of interests from members and co-opted members on matters to be considered at the meeting. The disclosure must include the nature of the interest.

 

An interest must also be disclosed in the meeting when it becomes apparent to the member during the meeting.

 

Notes:

 

(1)       Members may remain in the meeting and take part fully in discussion and voting unless the interest is a disclosable pecuniary interest or an interest which the Member feels would call into question their compliance with the wider principles set out in the Code of Conduct.  Disclosable pecuniary interests relate to the Member concerned or their spouse/partner.

 

(2)       Members in arrears of Council Tax by more than two months must not vote in decisions on, or which might affect, budget calculations, and must disclose at the meeting that this restriction applies to them.  A failure to comply with these requirements is a criminal offence under section 106 of the Local Government Finance Act 1992. 

 

(3)       Members are also welcome to disclose interests which are not disclosable pecuniary interests but which they consider should be made in the interest of clarity.

 

(4)       Officers must disclose interests in accordance with Council Standing Order 44.

 

2.

INSPECTION OF REPORTS AND BACKGROUND PAPERS

(Access to Information Procedure Rules – Part 3B of the Constitution)

 

Reports and background papers for agenda items may be inspected by contacting the person shown after each agenda item.  Certain reports and background papers may be restricted. 

 

Any request to remove the restriction on a report or background paper should be made to the relevant Strategic Director or Assistant Director whose name is shown on the front page of the report. 

 

If that request is refused, there is a right of appeal to this meeting. 

 

Please contact the officer shown below in advance of the meeting if you wish to appeal. 

 

(Jane Lythgow - 01274 432270)

 

3.

WEST YORKSHIRE PENSION FUND (WYPF) UNAUDITED REPORT AND ACCOUNTS FOR 31 MARCH 2021 pdf icon PDF 180 KB

The report of the Director, West Yorkshire Pension Fund, (Document “F”) presents the unaudited report on West Yorkshire Pension Fund financial activities and financial performance for the year 2020/21.

 

Members are requested to consider and note the unaudited report and accounts for 2020/21.

 

(Ola Ajala - 01274 434534)

 

Additional documents:

Decision:

Resolved –

 

That the report (Document “F”) be reviewed and noted.

 

Action: Director, West Yorkshire Pension Fund

4.

WEST YORKSHIRE PENSION FUND FIVE-YEAR INTERNAL AUDIT PLAN 2021/22 TO 2025/26 pdf icon PDF 120 KB

The report of the Director, West Yorkshire Pension Fund, (Document “G”) presents the latest five-year internal audit plan for West Yorkshire Pension Fund (WYPF). Members will be aware that the plan is reviewed annually between WYPF finance team and CBMDC internal audit by carrying out a detailed assessment of WYPF business risks, pensions and investment regulatory compliance environments, and service developments.

 

Members are asked to review and note the report.

 

(Ola Ajala – 01274 434534)

Decision:

Resolved –

 

That the report (Document “G”) be reviewed and noted.

 

Action: Director, West Yorkshire Pension Fund

5.

WEST YORKSHIRE PENSION FUND (WYPF) PRODUCTION OF ANNUAL BENEFIT STATEMENTS FOR MEMBERS 2021. pdf icon PDF 142 KB

The Director, West Yorkshire Pension Fund (WYPF) will present a report (Document “H”) which provides an update on WYPF annual benefit statement (ABS) production project 2021 for all members entitled to receive an ABS for the calendar year 2021.

 

Members are requested to consider and note the report.

 

 (Ola Ajala - 01274 434534)

 

 

Additional documents:

Decision:

Resolved –

 

That the report (Document “H”) be considered and noted.

 

Action: Director, West Yorkshire Pension Fund

6.

LOCAL GOVERNMENT PENSION SCHEME REGULATIONS UPDATE pdf icon PDF 98 KB

The report of the Director, West Yorkshire Pension Scheme (Document “I”) updates the Pension Board on changes to the Local Government Pension Scheme (LGPS) 2014 and provides information on associated matters.

 

Recommended –

 

That the report be noted.

(Tracy Weaver – 01274 433571)

 

Decision:

Resolved –

 

That the report be noted

 

Action: Director, West Yorkshire Pension Fund

7.

WEST YORKSHIRE PENSION FUND DATA IMPROVEMENT PLAN pdf icon PDF 95 KB

The report of the Director, West Yorkshire Pension Fund (Document “J”) informs Members that The Pension Regulator’s (TPR) Code of Practice 14 and The Public Service Pensions (Record Keeping & Miscellaneous Amendments) Regulations 2014 set out the requirements for public sector pension funds to maintain comprehensive and accurate data on their members and their member’s pension contributions.

 

The West Yorkshire Pension Fund Data Improvement Plan 2020/21 is appended to the report.

 

Recommended –

 

That Document “J” and the WYPF Data Improvement Plan, appended to that Document, be noted.

(Caroline Blackburn – 01274 434523)

 

Additional documents:

Decision:

Resolved –

 

That Document “J” and the WYPF Data Improvement Plan, appended to that Document, be noted.

 

Action: Director, West Yorkshire Pension Fund

8.

REGISTER OF BREACHES OF LAW pdf icon PDF 82 KB

The Director, West Yorkshire Pension Fund, will present a report

(Document “K”) which informs Members that, in accordance with the Public Service Pensions Act 2013, from April 2015, all Public Service Pension Schemes now come under the remit of the Pensions Regulator.

 

Section 70 of the Pensions Act 2004 (the Act) imposes a requirement to report a matter to The Pensions Regulator as soon as it is reasonably practicable where that person has reasonable cause to believe that:

 

(a)  A legal duty relating to the administration of the scheme has not been or is not being complied with, and

(b)  The failure to comply is likely to be of material significance to The Pensions Regulator in the exercise of any of its functions.

 

A register of any breaches of the Pensions Code of Practice is maintained in accordance with the WYPF Breaches Procedure.  The Register of Breaches 2021/22 is appended to Document “K”.

 

Recommended –

 

That the report and entries on the Register of Breaches of Law, contained in the appendix to Document “K”, be noted. 

 

(Caroline Blackburn – 01274 434523

Additional documents:

Decision:

Resolved –

 

That the report and entries on the Register of Breaches of Law, contained in the appendix to Document “K”, be noted. 

 

Action: Director, West Yorkshire Pension Fund

9.

WEST YORKSHIRE PENSION FUND PENSIONS ADMINISTRATION pdf icon PDF 148 KB

The report of the Director, West Yorkshire Pension Fund, (Document “L”) provides an update on West Yorkshire Pension Fund’s (WYPF) pensions administration activities over the last six months.

 

Recommended –

 

That the report be noted.

(Yunus Gajra – 01274 432343)

 

 

 

Additional documents:

Decision:

Resolved –

 

That the report be noted.

 

Action: Director, West Yorkshire Pension Fund

10.

McCLOUD- EFFECTS ON LOCAL GOVERNMENT PENSION SCHEME (LGPS) pdf icon PDF 85 KB

The report of the Director, West Yorkshire Pension Fund (Document “M”) provides an update on the effects on the Local Government Pension Scheme (LGPS) of a long awaited consultation on applying the remedy to address the age discrimination inherent with the transitional protections that were adopted by the public service scheme in 2014.

 

Recommended –

 

That the report be noted.

(Caroline Blackburn - 01274 434523)

 

Decision:

Resolved –

 

That the report be noted.

 

Action: Director, West Yorkshire Pension Fund

11.

PENSIONS DASHBOARD pdf icon PDF 120 KB

The report of the Director, West Yorkshire Pension Fund, (Document “N”) provides an update on the progress of the introduction of the Pensions Dashboard.

 

Recommended –

 

That the report be noted.

 

(Yunus Gajra – 01274 432343)

 

Additional documents:

Decision:

Resolved –

 

That the report be noted.

 

Action: Director,  West Yorkshire Pension Fund

12.

TRAINING, CONFERENCES AND SEMINARS INCLUDING DETAILS OF WEST YORKSHIRE PENSION FUND ANNUAL MEETINGS. pdf icon PDF 96 KB

Members are reminded that training to understand their responsibilities and the issues they will be dealing with is a very high priority.

 

The report of the Director, West Yorkshire Pension Fund, (Document “O”) informs Members of training courses, conferences and seminars which may be of assistance. Details of the WYPF annual meetings are also included in the report.

 

Members are asked that consideration is given to attendance at the events in Section 1 of Document “O” and to note the requirement to complete the Pension Regulators toolkit training.

 

(Caroline Blackburn – 01274 434523)

 

Additional documents:

Decision:

Resolved –

 

Members were asked that consideration was given to attendance at the events in Section 1 of Document “O” and to note the requirement to complete the Pension Regulators toolkit training.

 

Action: Director, West Yorkshire Pension Fund