Decision
Analysis
outcome: The recommendations were approved, and the May 2023 Worcestershire Pension Fund Risk Register was noted.
summary: The decision involves the approval of recommendations regarding the Worcestershire Pension Fund Risk Register, which includes the introduction of apprenticeships, discussions with housing associations about exiting the scheme, and addressing staffing resource risks.
topline: The Pensions Committee has decided to approve the recommendations concerning the Worcestershire Pension Fund Risk Register.
reason_contentious: The issue may be contentious due to the potential financial implications for housing associations exiting the scheme, the impact on staff training and recruitment, and the overall management of pension fund risks.
affected_stakeholders: Housing associations, new and current staff members, members of the pension scheme, and the local government pension scheme central (LGPSC).
contentiousness_score: 5
political_party_relevance: There is no direct mention of political parties or political influence on the decision within the provided text.
URL: https://worcestershire.moderngov.co.uk/ieDecisionDetails.aspx?ID=81
Decision Maker: Pensions Committee
Outcome: Recommendations Approved
Is Key Decision?: No
Is Callable In?: No
Purpose:
Content: The Committee considered the Risk Register. Richard Sultana introduced the report and commented: · Apprenticeships were being introduced at entry level to provide exposure for new members of staff across the whole administration system · Risk WPF 23 in respect of an employer not being able to make their contribution. At present, discussions were taking place with three housing associations about exiting the scheme through the Debt Spreading Agreement (DSA) arrangements · Risk WPF 20 in relation to insufficient staffing resources had been identified as a red risk. This risk would be downgraded as soon as all staff were adequately trained and the Committee would be kept updated on progress. In response to a query, Richard Sultana confirmed that a reference to the risks associated with recruitment and retention issues within LGPSC would be included in the next iteration of the Risk Register. Sherief Loutfy added that at present, LGPSC seemed to have their recruitment and retention issues under control so it was not seen as a significant risk. LGPSC were also currently in the process of updating their own Risk Register. RESOLVEDthat the May 2023 Worcestershire Pension Fund Risk Register be noted.
Date of Decision: June 28, 2023