Meeting documents

To consider an exempt report by the Pension Fund Administrator to follow – NOT FOR PUBLICATION. 

The Committee considered an exempt report by the Pension Fund Administrator that set out the proposed response to the Government’s requirements for LGPS funds to pool investments.  Members of the Committee discussed the report and a number of questions were raised.  All members agreed the recommendations apart from one member who abstained.

Resolved

(i)         That the Committee endorsed the joint submission from the Brunel Pension Partnership, including the Dorset County Pension Fund.

(ii)        That the Committee formally recommended the Council to agree, in principle, to the establishment of a Local Authority Company with the other Brunel founder funds, in which Dorset County Council would own 10% of the shares.

(iii)       That, consequently, the Chief Financial Officer be authorised to continue negotiating as necessary  with other Fund Members on the detail of the proposition and, in consultation with the Chairman of the Pension Fund Committee, to agree the terms of any final agreement, reporting back to this Committee in the normal manner.

(iv)       That the Head of Legal and Democratic Services be authorised to execute all necessary legal documents or formal agreements required to be agreed by the Council.