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Decision details

Pooling of Pensions Investments in Wales

Decision Maker: Flintshire County Council

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To establish a joint committee to govern pooled investment of the eight pension funds in Wales.


Decision:

(a)       That the content of the draft Inter Authority Agreement attached at Appendix B to the report be noted and authority delegated to the Chief Executive in consultation with the Chair of the Clwyd Pensions Committee and the Monitoring Officer to:

 

·         agree any further minor amendments to the IAA; and

·         approve and sign the final version of the IAA.

 

(b)       To establish a joint committee (hereinafter referred to as the Joint Governance Committee) on the basis of the terms of reference attached to the report within the proposed Constitution amendments;

 

(c)       That the exercise of certain functions be delegated to the Joint Governance Committee as detailed within the proposed Constitution amendments;

 

(d)       That the functions reserved to Council be noted, and all matters delegated to the Clwyd Pension Fund Committee apart from the termination or significant amendment of the Inter Authority Agreement;

 

(e)       That the appointment of the Chair of the Clwyd Pension Fund Committee to the Joint Governance Committee as the Flintshire County Council representative and the Vice-Chair of the Clwyd Pension Fund Committee as his/her nominated Deputy, be approved;

 

(f)        That delegation be provided to the nominated representative and his/her Deputy to act within the terms of reference of the Joint Governance Committee to enable the exercise of any delegated function;

 

(g)       That Carmarthenshire County Council (Dyfed Pension Fund) acts as the host authority with the responsibilities set out in the Inter Authority Agreement; and

 

(h)       That the amendments to the Constitution as set out in Appendix A to the report, be approved.

Report author: Philip Latham

Publication date: 23/03/2017

Date of decision: 01/03/2017

Decided at meeting: 01/03/2017 - Flintshire County Council

Accompanying Documents:

 

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