Agenda and decisions

Pensions Committee - Thursday 10 March 2022 6.30 pm

Venue: Committee rooms, Hackney Town Hall

Contact: Rabiya Khatun  Email: rabiya.khatun@hackney.gov.uk

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

No minutes for approval.

4.

Responsible Investment Policy - TO FOLLOW pdf icon PDF 99 KB

Additional documents:

Decision:

RESOLVED

1.  To note the reduction in exposure to future CO2 emissions by 96.9% since 2016, which significantly outperforms the Fund’s target of a 50% reduction.

2.  To agree the Fund’s ambition to deliver net zero emissions across its functions by 2040, ten years earlier than the target set by the Government, and in line with the Intergovernmental Panel on Climate Change’s higher confidence threshold for limiting global warming to 1.5C above pre-industrial revolution average.

3.  To agree that the Fund should monitor carbon exposure using a set of metrics in line with recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD).

4.  To approve the draft Responsible Investment Policy.

5.

Risk Policy pdf icon PDF 76 KB

Additional documents:

Decision:

RESOLVED to:

1. Approve the updated Risk Policy.

2. Note the risk register update for 2021/22.

 

6.

Procurement & Contracts Update pdf icon PDF 98 KB

Decision:

RESOLVED to:

1.  Approve the re-procurement of the Actuarial Services Contract (with Hymans Robertson) and Benefits & Governance Consultancy Contract (with Aon) via direct call off under Lot 5 of the National LGPS Framework for Actuarial, Benefits & Governance Consultancy Services.

2.  Note the intention to put the above contracts out for competitive tender via the Framework in Spring 2023.

3.  Approve the extension of the Investment Consultancy Contract with Hymans Robertson for an additional 5 months to 30th September 2022.

4.  Note the current position regarding the Custodian Services Contact.

7.

Pensions Administration Strategy pdf icon PDF 76 KB

Additional documents:

Decision:

RESOLVED:

To approve the updated Hackney Pensions Administration Strategy as outlined in Appendix 1 for publication.

8.

Business Plan pdf icon PDF 73 KB

Additional documents:

Decision:

RESOLVED:

To approve the Business Plan for 2022/23 to 2024/25.

9.

Quarterly Update Report pdf icon PDF 276 KB

Additional documents:

Decision:

RESOLVED:

To note the report.

 

10.

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 item 11- Cyber Security Policy 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.

11.

Cyber Security Policy

Decision:

RESOLVED to:

1.  Approve the proposed Hackney Pension Fund Cyber Strategy

2.  Note the remainder of the report and the information provided on two cyber assessments.

 

12.

Any Other Business Which in The Opinion Of The Chair Is Urgent