Decision

The Pensions Committee has decided to approve the recommendations for the Worcestershire Pension Fund Risk Register.

Analysis

outcome: The recommendations were approved, and the May 2023 Worcestershire Pension Fund Risk Register was noted.

summary: The decision involves the approval of the Worcestershire Pension Fund Risk Register, which includes strategies for apprenticeships, managing employer contributions, and addressing staffing resources.

topline: The Pensions Committee has decided to approve the recommendations for 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 and the impact on staffing resources within the local government pension scheme.

affected_stakeholders: Housing associations, new staff members, existing staff, and potentially the local government pension scheme members.

contentiousness_score: 5

political_party_relevance: There is no direct mention of political parties or political influence on the decision.

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