Agenda

Members of the public who wish to speak on an item on the agenda at this meeting, or present a petition, can attend the meeting in person or ‘virtually’ through an online connection.

Requests to present a petition must be submitted no later than 9am ten working days before the meeting.

Requests to speak must be submitted no later than 9am three working days before the meeting.

Requests should be submitted to committeesdemocraticservices@oxfordshire.gov.uk

If you are speaking ‘virtually’, you may submit a written statement of your presentation to ensure that if the technology fails, then your views can still be taken into account. A written copy of your statement can be provided no later than 9am on the day of the meeting. Written submissions should be no longer than 1 A4 sheet.

To approve the minutes of the meeting held on 06 March 2023 (PF4) and to receive information arising from them.

10:25

A copy of the unconfirmed Minutes of the Local Pension Board, which met on  24 April (PF5) is attached for information only.

10:25

The report sets out the items the Local Pension Board wishes to draw to the attention of this Committee following their last meeting on 24 April 2026.

The Committee is recommended to:

a)    To note the comments of the Board as set out in the report.

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.

10:45

This report will present the latest position on the Fund’s risk register, including any new risks identified since the report to the last meeting.

The Committee is recommended to:

a)    Note the latest risk register and accept that the risk register covers all key risks to the achievement of their statutory responsibilities, and that the mitigation plans, where required, are appropriate.

10:55

This report covers the key governance and communication issues for the Fund, including a report on any breaches of regulation in the last quarter.

The Committee is recommended to:

a)             Note the Fund’s update on General Code of Practice Compliance 2026/27.

b)       Note the Pension Fund Committee training update. 

c)       Approve the revised Local Pension Board Constitution.

d)       Note the latest quarter’s breaches for the fund.

e)       Note the communications update.

11:05

This report updates the Committee on the key administration issues including service performance measurement, the debt recovery process and any write offs agreed in the last quarter.    

The Committee is recommended to:

a)     Note the report.

11:20

This report will cover an overview of the financial markets, the overall

performance of the Fund’s investments against the Investment Strategy Statement and commentary on any issues related to the specific investment portfolios.

The Committee is recommended to:

a)    Note the report

11:40

This item provides the opportunity to raise any issues concerning Corporate Governance and Responsible Investment which need to be brought to the attention of the Committee.

The Committee is recommended to:

a)    Note the contents of the report.

11:55

This report covers updates on fund cashflow monitoring, pool transition costs and local investments.

The Committee is recommended to:

a)    Note the contents of the report.

The Committee is RECOMMENDED that the public be excluded for the duration of items  15,16,17 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.

NOTE: In the case of items  N/A  there are no reports circulated with the Agenda. Any exempt information will be reported orally.

12:20

An LGPS Central representative will present a transition progress report to the Committee.

The Committee is recommended to:

a)     Note the report.

12:45

This report updates committee on the approach to identifying the appropriate Fund structure post LGR.

The Committee is recommended to:

a)    Review the independent report from Barnett Waddingham and note the details contained within report in annex 1; and

b)    Agree the approach that Fund officers should explore further option 1, alignment with a new unitary authority and option 5 a new Single Purpose Pensions Authority as outlined in the report.

c)    Agree that Fund officers continue engagement with stakeholders and Government ahead of any formal designation decision by the Secretary of State.

12:55

This report presents to the Committee the final recommendation for the appointment of the Senior LGPS Officer.

The Committee is recommended to:

a)             Review the independent report from Aon (annex 1) and note the suggested actions as set out in the report; and

b)             Agree the appointment of Senior LGPS Officer as the Head of

                Pension Fund role.

c)             Note that further updates will be provided to Committee as the Fit for the Future changes are implemented over the next 7 months.