Issue - meetings

10:30

This report will review progress against the key priorities set out in the Annual Business Plan for 2026/7.

The Committee is recommended to:

a)    Review the progress against each of the key service priorities as set out in the report; and

b)    Agree any further actions to be taken to address those areas not currently on target to deliver the required objectives.

Mark Smith, Head of Pensions presented the report which reviewed progress against the key priorities set out in the Annual Business Plan for 2026/7 and outlined progress against service priorities.

The following was indicated:

·       That the 2026/27 plan had been developed through a workshop in February involving both Committee and Board members.

·       Attention was drawn to areas rated red or amber and the workforce strategy was identified as a critical risk, reflecting ongoing challenges around recruitment, retention and capacity, particularly in the context of organisational redesign and new legislative requirements arising from “fit for the future” reforms.

·       The job evaluation had been completed; approval had been obtained from the design authority and consultation with trade unions was imminent. It was emphasised that the Fund’s self‑funding status placed it in a strong position to invest in future workforce capacity.

·       An update was provided to the Committee on legislative reform, and confirmation that the Pensions Act had received Royal Assent on 29 April and that implementation guidance would follow.

·       All requirements relating to LGPS Central pooling had been completed by 1 April, including legal agreements and governance arrangements. And the Fund was now a shareholder and client of LGPS Central, and the transition of assets had progressed successfully, albeit with increased costs.

In response to Members, the following was noted:

·       That officers had confirmed that the workforce strategy would be brought back regularly.

Action: The Workforce strategy to be included as a standing item on future Committee agendas and officers to report back to the next meeting on the implications of local government reorganisation following the expected Government announcement in July 2026

The Committee RESOLVED to:

a)             Review the progress against each of the key service

priorities as set out in the report; and

b)             Agree any further actions to be taken to address those areas not currently on target to deliver the required objectives.