Pensions Fund Annual Report 2011-12 , item 18. PDF 4 MB

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F u n d m a n a g e m e n t During the course of 2011/2012 the Pensions Committee: Approved the payments of pensions to third parties without power of attorney agreements. Reviewed the service performance of the pensions team and cost of the administration and investment functions of the fund. Responded to the consultation on central government plans to reform the Local Government Pension Scheme (LGPS). Approved the Pensions Business Plan for 2012/2013. Reviewed and updated the Statement of Investment Principles and Risk Register. Involving others in Governance As well as the nine members on page 3, the Pensions Committee also has co-opted members. Co-opted members represent the Pensions Consultative Forum, which is made up of representatives from all organisations that are members of the fund. The co-opted members cannot vote at meetings and are shown below with who they represent. Two members are from trades unions, who represent employees and three are from other employers. During the course of the year the structure of co-opted members was reviewed and the decision taken to include a sixth co-opted member to represent pensioners. Co-opted members Alan Knight (Employees) Will Enes-Borlace (Employers) David Loades (Employers) Steve Elsey (Employees) Alison Elsmore (Employers) Eric Shaw (Pensioners) DRAFT 4
7 F u n d m a n a g e m e n t Pensions Panel The Pensions Panel helps the Pensions Committee. The Pensions Panel’s main tasks are to; decide the appropriate structure of investment management and appoint appropriate investment managers co-ordinate the activities of the various investment managers to reflect the overall aims of the fund monitor how the investment managers perform against their investment targets. The Director of Finance and Resources is responsible for managing the fund’s investments from day to day, in line with the decisions of the Pensions Panel. Pensions Panel council members Philip E B Atkins Christina Jebb Stephen Sweeney Mike Maryon Michael Lawrence The Pensions Panel during 2011/2012: Approved 2.5% of the funds assets to be allocated to alternative asset managers to further holdings.DRAFT diversify the funds holdings. Approved four property purchases to bring the funds property holding nearer to its benchmark of 10% of the fund. Approved an Annual Investment Strategy for managing the pension funds cash. Reviewed the pension fund’s corporate governance arrangements. More details of the responsibilities of the Pensions Committee and Pensions Panel are set out in our Governance Policy Statement which is available on our website at www.staffspf.org.uk. The Governance Policy Statement also contains the ‘Statement of Compliance’. This is our assessment of how the fund’s governance arrangements compare to nine best practice principles governmentḌRAFT set by the DRAFT 5
Page 1 and 2: Staffordshire Pension Fund Annual r
Page 3 and 4: Contents 2 3 9 18 27 53 55 Chairman
Page 5: F u n d m a n a g e m e n t Governa
Page 9 and 10: F u n d m a n a g e m e n t Adminis
Page 11 and 12: I n v e s t m e n t r e p o r t DRA
Page 13 and 14: I n v e s t m e n t r e p o r t DRA
Page 15 and 16: I n v e s t m e n t r e p o r t Inv
Page 17 and 18: I n v e s t m e n t r e p o r t Inv
Page 19 and 20: I n v e s t m e n t r e p o r t Cur
Page 21 and 22: F u n d m e m b e r s h i p Benefit
Page 23 and 24: F u n d m e m b e r s h i p aT New
Page 25 and 26: F u n d m e m b e r s h i p Benchma
Page 27 and 28: F u n d m e m b e r s h i p Custome
Page 29 and 30: Financial statements Staffordshire
Page 31 and 32: F i n a n c i a l s t a t e m e n t
Page 35 and 36: notesDRAFT DRAFT Assumptions The as
Page 37 and 38: Financial statements F i n a n c i
Page 55 and 56: G l o s s a r y Glossary of terms A
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C o n t a c t s If you have any que
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Pensions Fund Annual Report 2011-12 , item 18. PDF 4 MB

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