Issue - meetings

To receive a verbal update on current issues, including consideration of the forthcoming consultation from the Department for Levelling Up, Housing and Communities.

The Pension Fund Manager provided a verbal update on current issues, including consideration of the forthcoming consultation from the Department for Levelling Up, Housing and Communities expected in Autumn 2022 which would cover climate change, pooling, and levelling up. Consultation is also likely to include the replacement of the current CMA order (in respect of setting objectives for consultants) with LGPS regulations, the requirement for funds to take “proper advice” from FCA regulated advisers, the Scheme Advisory Board’s good governance, and the Boycotts, Divestment and Sanctions bill.

There was a concern that the 12-week consultation period may fall between scheduled committee meetings and it was therefore suggested that an additional informal meeting be arranged if necessary.

RESOLVED:

i)               THAT the legislation and regulation update be noted.

ii)              THAT an additional informal meeting of the Committee be arranged to consider the consultation from the Department for Levelling Up, Housing and Communities, if necessary.