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Agenda and decisions

Pensions Committee - Wednesday 24 June 2020 6.30 pm

• Attendance details
• Agenda frontsheet PDF 638 KB
• Agenda reports pack PDF 3 MB
• Printed decisions PDF 1 KB

Venue: Until further notice, these meetings will be held remotely https://youtu.be/5lcfrgC8CTs

Contact: Rabiya Khatun 

Media

Items

No.	Item
1.	Apologies For Absence
2.	Declarations of Interest - Members to declare as appropriate
3.	Consideration of The Minutes of The Previous Meeting PDF 124 KB View the background to item 3. View the decision for item 3. Decision: The Committee resolved to approve the minutes of the previous meeting held on 17 February 2020.
4.	Exclusion of The Press And Public Proposed resolution:   THAT the press and public be excluded from the proceedings of the Pensions Committee meeting during consideration of Exempt items on the agenda on the grounds that it is likely, in the view of the nature of the business to be transacted, that were members of the public to be present, there would be disclosure of exempt information as defined in Schedule 12A to the Local Government Act 1972 as amended.
5.	Covid 19 Impact Update PDF 280 KB
6.	Investment Strategy Review Timetable and ISS update PDF 188 KB View the background to item 6. View the decision for item 6. Additional documents: Investment Strategy Review Timetable and ISS Update - Appendix 1 (1) , item 6. PDF 107 KB Investment Strategy Review Timetable and ISS Update - Appendix 2 , item 6. PDF 1015 KB Decision: The Committee Resolved   ·  To note the timetable ·  To approve the interim investment strategy statement for publication on the Fund's website and within the Annual Report and Accounts.
7.	Quarterly Update - supplementary paper (to follow)
8.	Contract Extension - Actuarial and Benefits contracts PDF 266 KB View the background to item 8. View the decision for item 8. Additional documents: Actuarial and Benefits Contract Extension - Appendix 1 , item 8. PDF 160 KB Decision: The Committee Resolved   ·  To approve the extension of the Actuarial Services Contract with Hymans Robertson for an additional year until 31 October 2021 ·  To approve the extensions of the Benefits and Governance Consultancy Contract with Aon for an additional year until 31 October 2021
9.	Infrastructure - training and initial strategy decision PDF 216 KB View the background to item 9. View the decision for item 9. Additional documents: Restricted enclosure 11 View the reasons why document 9./2 is restricted Restricted enclosure 12 View the reasons why document 9./3 is restricted Decision: The Committee resolved   ·  To approve a total allocation to infrastructure of up to 5% of the Fund.  Within this it was recommended that the first priority for implementation be renewable infrastructure fund alongside a balanced fund as a means to continue and support the Fund's carbon objectives ·  To approve an allocation to renewable infrastructure of 30-50% of the total infrastructure allocation.  As the renewables market develops and it becomes clearer what level of impact the renewable infrastructure allocation can have on the Fund's carbon exposure, this level may increase.
10.	Any Other Business Which in The Opinion Of The Chair Is Urgent