The Independent Chair of the Local Pension Board presented this report, which reviewed the work and performance of the Board and its Members between 1 April 2023 to 31 March 2024 and included a proposed Work Plan for 2024-2025. The Board was required to produce the report for consideration by the Scheme Manager, which was the Wirral MBC Pensions Committee. The purpose of the Merseyside Local Pension Board was to assist the Administering Authority (Wirral MBC) in its role as Scheme Manager under the Public Service Pensions Act 2013 and the Local Government Pension Scheme (LGPS) Regulations. The Board provided a specific forum for Employers and Employees to be actively involved in the governance of the Merseyside Fund on an ongoing basis. The Independent Chair thanked officers and members for their engagement and that the governance of the Fund was exemplary. He highlighted recruitment and retention as an issue as well as the proposed change of Government policy in relation to investment governance away from individual funds to pools, including moving the responsibility for implementation of investment strategy.  

Resolved – That the report be noted.