Pensions Committee - Thursday 6 November 2025, 6:30pm - Tower Hamlets Council webcasts

Pensions Committee
Thursday, 6th November 2025 at 6:30pm 

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  1. Cllr Maium Talukdar
  2. Cllr Shafi Ahmed
  3. Cllr Sabina Akhtar
  4. Cllr Saied Ahmed
  5. Cllr Abu Talha Chowdhury
  6. Cllr James King
  7. Mr Matthew Mannion
  8. Mr Joel West
  9. Cllr Shafi Ahmed
  10. Cllr Shafi Ahmed
  11. Mr Joel West
  12. Cllr Shafi Ahmed
  13. Mr Joel West
  14. Cllr Shafi Ahmed
  15. Cllr Shafi Ahmed
  16. Cllr Shafi Ahmed
  17. Cllr Shafi Ahmed
  18. Cllr Shafi Ahmed
  19. Cllr Shafi Ahmed
  20. Cllr Shafi Ahmed
  21. Cllr Shafi Ahmed
  22. Cllr Rebaka Sultana
  23. Cllr Shafi Ahmed
  24. Cllr Shafi Ahmed
  25. Cllr Shafi Ahmed
  26. Cllr Rebaka Sultana
  27. Cllr Rebaka Sultana
  28. Cllr Shafi Ahmed
  29. Cllr Shafi Ahmed
  30. Webcast Finished

Cllr Maium Talukdar - 0:00:00
Thank you.
Thank you.
You can begin.
Good evening, everyone, and welcome to the committee
meeting. My name is Councillor Anami and I'm in the chair of
the committee. Please note that following meeting
procedure, this meeting in hold in the present committee,
I will be able to vote.
Otherwise, the person will be also attending remotely.
Committee members and others who have chosen to attend remotely
have been advised by the committee officer.
They should technically, if you call it,
be able to have full participation in the meeting in May.
They are obviously feeling it is necessary.
I will remember the meeting of the committee members
Cllr Shafi Ahmed - 0:01:02
meeting to only ask on my direction to speak clearly into the microphone to ensure that
the contribution can be properly recorded.
Can everyone ensure the mobile phone switch off on silent mode?
In that, I will ask the committee member present to introduce.
A member please can you do so?
Councillor Ayman Rahmambe from Green West.
No DPIs, thank you.
Councillor Saeed Ahmed, Canary Wolf, no DPIs.
Cllr Sabina Akhtar - 0:01:49
Good evening everyone.
Cllr Saied Ahmed - 0:01:55
Councillor Lewis and Catherine's and what nothing to declare good evening
Cllr Abu Chowdhury - 0:02:00
Councillor cover is saying from Ballot on what nothing to declare
Councillor Peter Gold's Island Gardens Ward nothing to declare came down
Cllr James King - 0:02:11
continued a trade union representative
Mr Matthew Mannion - 0:02:21
Sankar, Corporate Head of Financial and Technical Accounting.
Durazza Qasim, Interim Corporate Director for Resources.
John Jones, Chair of the Local Pension Board.
Richard Worden, Hymans Robertson, Fundactory.
Steve Turner, Investment Consultant, Mercer.
Colin Robertson, Independent Advisor.
Fahana Zia, Democratic Services Officer, Supporting Pensions.
Mr Joel West - 0:02:57
Cllr Shafi Ahmed - 0:03:10
The
representative committee. Paul Aoude, head of pension and treasury. Thank you.
Cllr Shafi Ahmed - 0:03:22
Stay any decline of the interest there will have any of these agenda item and
literally of the interest. No chair no apologies received.
Mr Joel West - 0:03:41
Cllr Shafi Ahmed - 0:03:46
Before I go to the agenda, item in the agenda, there are a few responses on this agenda.
Some are on note which is other required discussion.
Then we will go through to question from members of the note.
That's what also we have time. We don't have a time so that the photos be required longer than the
divide
Declaration of interest page number seven point eight we have already
Do this decline also in dash with D
In dash, I will move in into next item
under the action minute of the
Proposal minute page number nine by twenty to two minute
Can I member to
approve the restriction minute of the meeting hold on twenty five to twenty twenty five as a
Good in the record of the procedure
Okay
Any petition
Mr Joel West - 0:05:01
Cllr Shafi Ahmed - 0:05:04
No chair, no petitions received. Moving the next item, subject to form the
Pension Board, page number 23, 25 minute. Can you invite John Johnson to present your report, please?
Yeah, thank you, chair. There is a short report before you, following the last meeting we had,
back in October, which is on page 23 and 24 of your pack.
I just want to highlight two or three issues
because a lot of the comments here relate to reports
that you've actually got on your agenda a bit later on.
First paragraph two, unusually during the summer
I received two letters, one from the Department
for Education about a governance issue,
and that's covered in the governance report
on the confidential part of the agenda later on today,
and also another letter from a member of the fund
about the investment policy of the committee
and these were passed over to officers to reply to.
One comment on paragraph three
about pensions administration
which we spent quite some time discussing
and the importance of the staffing position
and recruitment of Aitken posts
and suggested that this information should be included
in future reports to the committee and the board.
But we did also on a positive note welcome the progress
being made on data cleanse and also the deadline
for the dashboard.
Paragraph six over the page there,
we had a very helpful informative presentation
from Council's Risk Officer on the structure
of the risk register and the pension fund element of this
is to be reviewed to reduce the number of risks
to a more manageable level.
and also clarify mitigation delivery responsibilities,
which we felt was a very important point
that needed to be conveyed.
And it was a very helpful discussion
and we welcome the time spent on that.
Paragraph eight, there's a reference
to the governance report
and there was some discussion about issues
and we'll touch on those,
I think when we get to that report later on the agenda.
So other than that,
If members have got any questions or comments
at this juncture, then I'm very happy to deal with them.
Cllr Shafi Ahmed - 0:07:25
Does the committee have any question
or comment on which to speak?
No question?
Cllr Shafi Ahmed - 0:07:40
Can the report and the recommendation will be noted?
Thank you for Johnson & Johnson to your report.
Report on the consideration,
Pangshu admission report, June 2025,
page number 2526, two minute.
Can I ask the report being the record
will be the state to question.
Do you have any?
You want to do that?
Yeah.
Thank you, Chair. In the interest of time, I am happy for this report to be taken as read and happy to take any questions. Thank you.
Cllr Shafi Ahmed - 0:08:32
Do you have any questions? No.
Cllr Shafi Ahmed - 0:08:47
I'll ask the report being recorded and we'll be get through the question. Do you have a committee of any question to ask?
No question, okay
Can I ask the committee have a comment on it or note can member please note this agenda?
The recommendation will be page 25 an agenda
The personal committee record to be noted control of the report
Thank you, Chair.
Again, this report can be taken as read and I'm happy to take any questions.
Thank you, Chair.
Cllr Shafi Ahmed - 0:09:48
Do a member have any question to ask?
All right then.
Five point, the Pension Fund risk registration, September 2025, page number 4594, one minute.
Yes.
Thank you, Chair.
Again, this report can be taking us right in the interest of time. I'm happy to take any questions. Thank you chair
Member any question to us
Cllr Shafi Ahmed - 0:10:23
Cllr Shafi Ahmed - 0:10:34
5 .4 drop pension fund annual report and accounts
I have a question on page 48.
Cllr Rebaka Sultana - 0:10:59
Do you want to quickly touch on the reds, just to understand what the issues are with
are and when they would go to Ambergring?
Well the, thank you chair, the risks that are highlighted, the risks that
were considered of the utmost importance, for example risks relating to you know
the current goings on within the LGPS and of course within the geopolitical risks relating
to tariffs, et cetera.
But these risks you will know are, if you like, transactional and be carefully monitored
and appropriate measure of staking.
But I think offices are monitoring these risks routinely.
Cllr Shafi Ahmed - 0:12:26
Yes, go ahead.
On the risk register I think we're going to do some revisions, Paul on it one way in terms
of making it less detailed because it tends to be kind of broader risk rather than being
very specific because you can't cover every specific risk and so I think it's a bit of
revision just to make them more general categories I think that's so it's always a work in progress
I think on a risk register.
Cllr Shafi Ahmed - 0:13:02
5 .4, Drop Pension Fund Annual Report and Accounts, 2024 -2025, page number 95, fold 265 minute.
Thank you, Chair.
This report updates the committee on the current position of the draught annual
reports currently undergoing the Sagittari audit and EY are currently
working through the remainder of the steps you know on their files and they've
indicated that they are minded to you know provide their report over the next
two weeks and I think they're targeting around about 18th of November.
Publication date for the report is first of December, Chair.
I have nothing further to add and happy to take any questions.
Thank you.
Do you remember any questions?
Cllr Shafi Ahmed - 0:14:07
Okay.
No questions.
Thank you.
So, I think that's a good thing.
Thank you.
One question.
Cllr Rebaka Sultana - 0:14:19
So, recommendation three, if there are any changes to the
draught, to the statement, would the committee be able to see
this or when do we get a chance to see the final version?
Thank you, Chair. The Section 151 has delegated authority to work with EY to tie up the loose
ends. So essentially EY are happy with the material they have audited and they are very
close to signing off. But any loose ends, as this Committee has been asked to do to
delegate the rest of that work to the section 151.
Thanks, my question was would we see any changes?
Cllr Rebaka Sultana - 0:15:08
When would we get that report of any changes?
Well, the changes already have been, sorry, Abderruzak.
Sorry, Paul, if I can just come in, Chair.
So yes, the report is going to the December committee
to be signed off. So far we haven't received any material changes. We're still waiting
for the final report to be issued and then we'll bring it back for the final one to the
committee next in December.
Cllr Shafi Ahmed - 0:15:51
Thank you, Rajak. Training event, can I invite Paul Wu to present your report, please?
Thank you, Chair.
The training is a key part of the responsibility for this committee and the report in the pack,
there is the training plan which sets out the training programme for the coming period
and the key point as follows to approve for the committee to approve the proposed training
strategy set out in the report. There was a training event back in September
launched by Hyman's and that I think members of this committee as well as the
board were invited to attend that event but in light of recent changes in the
LGPS landscape. This is a moving phase so a lot more would be done in this space
to ensure that the training that have already been you know set out in a
strategy will be further you know reviewed to ensure that is consistent
with all the areas that are implicit in the knowledge areas
to support the committee and the board.
I'm happy to take any questions, Chair.
Thank you.
Thank you.
Do you have a committee have any question?
Cllr Shafi Ahmed - 0:17:43
Okay, okay then.
Pension Committee Work Plan page number 427436.
7 4 3 6 can I members to note this
Pension committee work plan. Are there any suggestion member to wish to make the pension committee recommended to
Note the work plan of the board
Any other business and the chair consideration are gently face two minute
There is any other business considered?
A restricted minute from the previous meeting,
page number 437444.
Okay, okay, sorry, sorry.
Yes, the question of the press and public.
the
In view of this contract of the
remoting item on the agenda, the committee is recommended of the
following motion.
The under of the previous of the section 100A and local
government act 1972 is amended by the local government access
the press and public be excluded from the remoting of the meeting.
The consideration of the section 2 business and the ground dirty construct information in the exam
in 1 and section 12a to the local government act 1972.
to do. Can we get someone to second that motion, please?
Mr Matthew Mannion
Head of Democratic Services
Tower Hamlets
View profile Mr Matthew Mannion