A report by the Director of Pensions provided Members with an update on pooling arrangements in respect of Merseyside Pension Fund (MPF) and the Northern LGPS (NLGPS). Members were advised that the minutes of the previous Northern LGPS Joint Committee meeting were appended for noting

Members were informed that the LGPS Investment Regulations 2016 require MPF, after taking proper advice, to formulate an investment strategy which must be in accordance with guidance issues from time to time by the Secretary of State.

Members were then advised that if this policy is approved, MPF’s Investment Strategy Statement (ISS) would be revised to reflect the new NLGPS policy and revisions to the MHCLG guidance following the Supreme Court judgement in 2019 and MPF specific requirements.

The Director of Pensions responded to questions by Members

It was moved by the Chair and formally seconded by Councillor C Povall and

Resolved – That

1)  The Pensions Committee note the minutes of the Northern LGPS Joint Committee meeting; and

2)  the Pensions Committee approve the Northern LGPS Responsible Investment Policy.