Report authorised by: Jackie Belton, Strategic Director for Corporate Resources
Contact for enquiries: Linda D’Souza, Interim Head of HR Operations – 07854 752186,
For noting and approving
Christina Thompson, Director for Finance and Property; and, Linda D’Souza, Head of HR Operations, introduced the annual report and noted:
· Risk PA9 was an administrative risk and fell under the Pensions Board’s remit.
· Risk PA10 related to working from home policies and fell under the remit of the Corporate Committee. This risk was rated as serious as it involved handling personal information under GDPR regulations.
· Attendees were content with Risk PA17 (actuarial evaluation) as the Committee and Board had received training and had spent a year analysing it.
· The report in future would be presented as it appeared on the corporate risk register, with 0-32 scoring and detailed control measures.
· Officers would add additional risks detailing GMP equalisation, methodology and longevity.
· Risks could be added to the register by Members.
· Stranded assets were included under Risk PA21.
· The Pensions Fund’s consultants, Mercers, monitored managers’ ESG ratings.
1. To note and review the Lambeth Pension Fund Risk Register and the additional actions proposed to mitigate risk.