Agenda

To approve the minutes of the meeting held on 17 October 2025 and to receive information arising from them.

Report by: Mark Smith, Head of Pensions

The Board are invited to review the position against the Annual Business Plan for 2025/26 as considered by the Pension Fund Committee at their meeting on 12 December 2025 and to offer any comments to the Committee. 

Report by: Mukhtar Master, Governance and Communications Manager

This is the latest risk register as considered by the Pension Fund Committee on 12 December 2025.  The Board are invited to review the report and offer any further views back to the Committee.

Report by: Mukhtar Master, Governance and Communications Manager

The Board are invited to review the Governance and Communications Report as presented to the Committee at their meeting on 12 December 2025. The report includes a log of all regulatory and data breaches. Additionally, there will be a verbal update on the review of the Local Pension Board constitution.

Report of: Vicki Green, Pension Services Manager

The Board are invited to review the latest Administration Report as presented to the Pension Fund Committee on 12 December 2025, including the latest performance statistics for the service and an update on staffing.

Report by: Greg Ley, Financial Manager – Pension Fund Investment

This report updates this Board on the Funding Strategy and Investment Strategy statement reviews.

Report of: Josh Brewer, Responsible Investment Manager

The Board will receive a verbal update on the progress of the survey to members. 

Report of: Mark Smith, Head of Pensions

This paper provides an update on Local Government Reorganisation and possible impacts to the Fund.

The Board are invited to confirm the issues they wish to include in their latest report to the Committee.

Members are invited to identify any issues they wish to add to the agenda of the next meeting of this Board. 

The Committee is RECOMMENDED that the public be excluded for the duration of items 16, 17, 18 and 19 in the Agenda since it is likely that if they were present during those items there would be disclosure of exempt information as defined in Part I of Schedule 12A to the Local Government Act 1972 (as amended) and specified in relation to the respective items in the Agenda and since it is considered that, in all the circumstances of each case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

THE REPORTS RELATING TO THE EXEMPT ITEMS HAVE NOT BEEN MADE PUBLIC AND SHOULD BE REGARDED AS STRICTLY PRIVATE TO MEMBERS AND OFFICERS ENTITLED TO RECEIVE THEM.

Report of: Josh Brewer, Responsible Investment Manager

This report updates this Board on the Transitional Housing Fund.

Report of: Mark Smith, Head of Pensions

This report provides an update to this Board on the progress of the Workforce planning project.

Report of: Mark Smith, Head of Pensions

This report provides this Board with an update on the progress of the 2025 valuation.

Report of: Mark Smith, Head of Pensions

The Board are invited to note this report as presented to the Pension Fund Committee on 12 December 2025.