9 AMENDMENTS TO THE INTER AUTHORITY AGREEMENT OF THE WALES PENSION PARTNERSHIP PDF 77 KB
To submit
the report of the Chair of the Pensions Committee.
Additional documents:
Decision:
To approve the
amendments to the Inter Authority Agreement of the Wales Pension Partnership as
outlined in Appendix 1 of the report to the Council.
Minutes:
The Chair of the Pensions Committee submitted a report
asking the Council to approve amendments to the Inter-Authority Agreement of
the Wales Pension Partnership as outlined in Appendix 1 of the report.
Members were given an
opportunity to make observations and ask questions.
Members supported the
proposal on the basis:
·
The partnership had served the Gwynedd Pension Fund very well, and the
changes would be of assistance to improve performance and the method of service
delivery by the Wales Pension Partnership.
·
As we were moving into the private market, there was a need to appoint a
private market allocator with extensive experience and knowledge of private
markets, and the potential advantages for the fund in the long-term would
undoubtedly outweigh the costs of the appointment, which would fall on the
partnership, and not Gwynedd.
·
The selection of the scheme member representative from amongst members of
the pension boards and the inclusion of such person on the joint committee
would extend the decision-making process, by ensuring that all the scheme’s
members are included in the discussions.
RESOLVED to approve the amendments to the
Inter-Authority Agreement of the Wales Pension Partnership as outlined in
Appendix 1 of the report to the Council.