Agenda and minutes

Pensions Committee - Tuesday, 15th December, 2009 4.30 pm

Venue: Committee Room 3 - Civic Centre, High Street, Uxbridge UB8 1UW. View directions

Contact: Nav Johal

Items
No.	Item
13.	Apologies for Absence Minutes: Councillor Philip Corthorne and John Thomas (UNISON)
14.	Declarations of Interest in matters coming before this meeting View the declarations of interest for item 14. Minutes: Councillors’ Cooper, Cox and Harmsworth and Advisory Members Nicholas Manthorpe John Holroyd declared an interest, as they are members of the Local Government Pension Scheme.
15.	To receive the minutes of the meeting held on 23 September 2009 & 14 October 2009 Minutes: Agreed as a correct record.
16.	To confirm that the items of business marked Part 1 will be considered in Public and that the items marked Part 2 will be considered in private Minutes: It was agreed that items 8, 9, 10 and 11 would be considered in private for the reason stated in the agenda. Members of the press and public were therefore excluded from the meeting during the consideration of these items.
17.	PART 1 - Review of Performance Measurement of the Fund PDF 82 KB Additional documents: LBH Exec Report Q3 09 , item 17. PDF 245 KB WM Report Q3 2009 , item 17. PDF 19 KB PE ListingSept09 , item 17. PDF 40 KB LGT Performance Q3 2009 , item 17. PDF 39 KB ASP Performance , item 17. PDF 51 KB Minutes: The Chairman introduced the report. This report reviewed the fund management performance for the London Borough of Hillingdon Pension Fund for the quarter to 30 September 2009. It was noted that the performance of the whole fund for the quarter to 30 September 2009 showed an out performance of 0.08% with a positive return of 17.40%, compared to the benchmark 17.31%. Issues regarding the Pension Fund performance to be discussed in further details by the Sub-Committee. Resolved 1. That the contents of the report be noted. 2. That the performance of the Fund Managers was discussed.
18.	Retirement Performance Statistics PDF 78 KB Minutes: The Chairman introduced the report. This report summarised the number of early Retirements in the last quarter. Resolved 1. That the contents of the report were noted.
19.	Cost of Early Retirements PDF 59 KB Minutes: The Chairman introduced the report. The report gave an update on the current situation on the cost to the fund of early retirements. Figures presented were within the tolerance level. Resolved That the contents of the report be noted.
20.	PART 2 - Corporate Governance & Socially Responsible Investment View the reasons why item 20. is restricted Minutes: This item was discussed as a Part 2 item without the press or public present since the information under discussion contains confidential or exempt information as defined by law in the Local Government (Access to Information) Act 1985. This is because it will discuss ‘information relating to the financial or business affairs of any particular person (including the authority holding that information)’ (paragraph 3 of the schedule to the Act).
21.	Review of Investment Strategy and Investment Sub Committee - Oral report View the reasons why item 21. is restricted Minutes: This item was discussed as a Part 2 item without the press or public present since the information under discussion contains confidential or exempt information as defined by law in the Local Government (Access to Information) Act 1985. This is because it will discuss ‘information relating to the financial or business affairs of any particular person (including the authority holding that information)’ (paragraph 3 of the schedule to the Act).
22.	Longevity & Club Vita - Presentation by Bryan Chalmers, Fund Actuary Minutes: This item was discussed as a Part 2 item without the press or public present since the information under discussion contains confidential or exempt information as defined by law in the Local Government (Access to Information) Act 1985. This is because it will discuss ‘information relating to the financial or business affairs of any particular person (including the authority holding that information)’ (paragraph 3 of the schedule to the Act).
23.	Outlook for 2010 valuations - Presentation by Bryan Chalmers & John Hastings Minutes: This item was discussed as a Part 2 item without the press or public present since the information under discussion contains confidential or exempt information as defined by law in the Local Government (Access to Information) Act 1985. This is because it will discuss ‘information relating to the financial or business affairs of any particular person (including the authority holding that information)’ (paragraph 3 of the schedule to the Act).