Issue - meetings

59.1        The Committee considered an update report on the Governance of the East Sussex Pension Fund, introduced by Michael Burton who drew the Committee’s attention to the following:

1)         There has been an update to the Pension Board membership, Nigel Manvell is now the employer representative for BHCC.

2)         The General Code of Practice has been issued by the Pensions Regulator and will be applied from 27 March 2024. Officers are reviewing processes to ensure the Fund is compliant with the Code; Officers will highlight any compliance gaps and the actions required and will bring these to the next meeting and will consider whether training is needed at that point or if a working group is required.

3)         The Economic Activity of Public Bodies (Overseas Matters) Bill is going through parliament which may have a potential impact on decision making for investments as it prevents political, moral decision making for investments.

4)         The Risk Management policy has had some minor updates but no material changes have been made.

59.2        The Committee thanked officers for the report and noted that Councillor Colin Swansborough is to be the named substitute for the Liberal Democrats’ allocated place on the Committee.

59.3        The Pension Committee RESOLVED to:

1)    Note the report; and

2)    Approve the Risk Management policy.