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Pension Committee |
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Date: |
25 November 2021 |
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By: |
Chief Financial Officer |
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Title: |
Annual Report and Accounts 2020/21 |
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Purpose:
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To present the Annual Report and Accounts 2020/21 for approval |
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RECOMMENDATION The Committee is recommended to Review and approve the draft Pension Fund Annual Report and Accounts 2020/21
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1. Background
1.1 This report has been prepared to enable the approval of the Annual Report and Accounts 2020/21 in advance of the required publication by 1 December 2021.
2. Supporting Information
2.1 Annual Report Requirements - Local authorities responsible for administering a pension fund (scheme manager) forming part of the Local Government Pension Scheme (LGPS) are required by the LGPS Regulations to publish a pension fund annual report. The publication of the annual report is separate from the authority’s own statutory accounts and contains financial statements in respect of the pension fund. Local authorities are required to publish the Annual Report by 1 December.
2.2 It is the role of the Pension Committee to approve the Pension Fund Annual Report and accounts having considered whether appropriate accounting policies have been followed and any issues raised by Grant Thornton from the audit. The accounts were considered and approved by Pension Committee on 28 September 2021 and have been incorporated within the Council’s Statement of Accounts which was completed and published on 19 October 2021, with an unqualified audit opinion. The accounts are included as a copy in the Annual Report, which is prepared based on the Chartered Institute of Public Finance and Accountancy (CIPFA) guidance for LGPS funds on preparing the annual report published in 2019. The draft report is included in Appendix 1.
3. Conclusion and reasons for recommendation
3.1 The Pension Fund Annual Report sets out the financial, performance and governance activities of the East Sussex Pension Fund during the 2020/21 financial year. The Pension Committee is recommended to review and approve the Pension Fund Annual Report and Accounts for 2020/21, for publication in advance of 1 December 2021.
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Chief Finance Officer |
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Contact Officer: |
Sian Kunert, Head of Pensions |
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Email: |
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