Agenda item

(a)  The Committee reviewed and approved the updated Knowledge and Skills Policy.

(b)  The Committee reviewed and approved the updated Conflicts of Interest Policy.

(c)  The Committee reviewed and approved the newly created Policy on the Overpayment and Underpayment of Pension Scheme Benefits.

(d)  The Committee agreed to recommend an amendment to Flintshire County Council’s Financial Procedural Rules relating to the write-off of bad debts, changing references from “Cabinet” to the “Pension Fund Committee”.

            The Chairman noted that the first policy presented within this report covered the Fund’s requirements around the knowledge and skills of Committee members and key officers. The Policy was updated to meet the requirements of the new CIPFA code of practice on this topic. The second Policy covered conflicts of interest and guides all Pension Fund Committee members, Pension Board members, officers and advisers on how actual and potential conflicts of interest in relation to the management of the Fund are identified and managed. The final Policy was the over and underpayment of pension scheme benefits. This new Policy was developed to ensure that there was clarity on how overpayments and underpayments in relation to the Fund were managed.

            Mrs McWilliam stated the following key points:

-       The Training Policy was renamed as the Knowledge and Skills Policy to better reflect the wording of the latest CIPFA Knowledge and Skills Code and Framework, and recognising that the requirements are wider than just delivering training.

-       There are national requirements for members and senior officers to have a strong level of knowledge, some of which are driven by legislation, she stressed the need and focus on this at a Fund level.

-       CIPFA had amalgamated and strengthened their expectations into a new Code and Framework and the Fund’s new Policy was updated to be in line with these. As a result there were some fundamental changes to the Policy with the main changes summarised in item 1.03 on page 183 and 184.

-       Page 193 included a new objective around how individuals are committed to attend training in accordance with the Knowledge and Skills Policy. She added that members and officers were required to attend 75% of training (previously 80%) and that this would be monitored and reported on.

Mrs McWilliam then presented the Conflicts of Interest Policy outlining that only minor changes were being proposed.  She highlighted importance of the Policy as members and officers must adhere to the requirements of the Policy and declare any interests. She highlighted that the Fund Policy included additional requirements beyond Council expectations and it was important for members and officers to recognise their pension fund responsibilities when carrying out pension fund duties.  The key updates made to the Policy are summarised in item 1.07.

On page 217 on the examples of conflicts of interest, Mr Hibbert noted an error in one of the examples where WPP should have been quoted. Mrs McWilliam confirmed that she would update it for the final versions.

Cllr Rutherford wondered whether the Fund could provide the Committee with a 30-minute refresher session on meeting the requirements of the Conflicts of Interest Policy. Mrs McWilliam agreed and it was confirmed a separate training session would be set up.

Mrs Williams introduced the proposed Clwyd Pension Fund Policy on the Overpayment and Underpayment of Pension Scheme Benefits.  She explained that the new Policy outlines that where a member has been underpaid, Fund officers will increase the pension to the correct amount and write to members to inform them of their underpayment. Mrs Williams clarified that the Policy will ensure consistency and give protection to members and assurance to the Committee that a formal policy was in place. The Policy incorporates the principles set out in Flintshire County Council’s corporate debt recovery procedures, delegation of responsibilities and its financial procedure rules, as well as details on how various scenarios of under and over payments will be managed more specific to the Fund.

Mrs Williams also added that internal controls were set in place to minimise events such as large write off amounts occurring in the first instance. The Committee were asked to approve that they should seek an amendment to the Flintshire County Council’s Financial Procedural Rules relating to writing off large debts so the Pension Fund Committee approved them as opposed to Cabinet. Mr Everett replied that this amendment was a technical adjustment but would still need to go through Council and it made sense given the Committee had the knowledge of Fund matters.

RESOLVED:

(a)  The Committee reviewed and approved the updated Knowledge and Skills Policy.

(b)  The Committee reviewed and approved the updated Conflicts of Interest Policy.

(c)  The Committee reviewed and approved the newly created Policy on the Overpayment and Underpayment of Pension Scheme Benefits.

(d)  The Committee agreed to recommend an amendment to Flintshire County Council’s Financial Procedural Rules relating to the write-off of bad debts, changing references from “Cabinet” to the “Pension Fund Committee”.