Issue - meetings

To consider the Investment Managers Report

To approve the Business Plan

Submitted – a report by the Investment Manager advising members of the Wales Pension Partnership's wish for each individual Committee within the Partnership to approve their Business Plan. It was reported that the Business Plan contained details about the Partnership's priorities and how it would deliver its objectives for 2020-2023.  The Plan also contained governance arrangements, policies and plans as well as information about their marketing stance, financial budgets and a summary of the Partnership's performance objectives and investments.

It was noted that meetings were being held every fortnight with Officers, Hymans and the Host Authority (Carmarthenshire) in order to share updates, information and have input into documents. It was added that a number of policies had been formalised during the lock-down, and these were available on the Partnership's website. The officer drew attention to the training plan which covered a number of topics with the aim for Members to have the appropriate knowledge and understanding - these would be beneficial sessions and would be flexible for the Members of the Committee and the Pension Board. They were likely to be delivered on-line.

In response to a previous comment regarding the Wales Pension Partnership's costs (£70k), it was highlighted that the Host Authority was dealing with considerable / additional work and that the budget seemed insufficient. The Investment Manager added that one extra officer had been appointed and that the Authority's existing officers were taking on additional responsibilities. The Head of Finance added that the sum was reasonable.

RESOLVED to approve the Business Plan