Issue - meetings

10:25 am

This is the latest risk register as considered by the Pension Fund Committee on 5 June 2026.  The Board are invited to review the report and offer any further views back to the Committee.

Mukhtar Master, Governance and Communications Manager presented the Risk Register report as considered by the Pension Fund Committee on 5 June 2026 and invited comments from the Board.

The following was indicated:

·       New or revised risks included, workforce capacity, Local Government Reorganisation, Fit for the Future and New Fair Deal.

·       Officer skills risk had increased to red due to vacancies, while Committee skills risk and McCloud risk had reduced.

·       Risk 4 would be updated to reflect the completed Brunel transition and future LGPS Central arrangements.

·      Committee turnover risk would be reviewed in light of Local Government Reorganisation and potential shadow authority arrangements.

·       Local Government Reorganisation created operational, governance and financial risks.

In response to Members, the following was noted:

·       Officers would revise the register to ensure risks were forward-looking and reflected the Board’s comments.

Actions: Officers to update risk 4 to reflect the completed Brunel transition and future LGPS Central monitoring; ensure Committee turnover risks linked to local government reorganisation are reflected appropriately; consider succession planning for the employer representative vacancy; and ensure the local government reorganisation risk captures operational, governance and financial impacts.

Resolved: The Board noted and approved the Risk Register, subject to the comments made.

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.

Mukhtar Master, Governance and Communications Officer presented the latest position on the Fund’s risk register, including any new risks identified since the report to the last meeting.

The following was indicated:

·       That two new risks had been identified. The first related to insufficient workforce resources resulting from recruitment and retention challenges, and the second concerned the risks arising from local government reorganisation.

·       It was further reported that the risk relating to insufficient officer skills and knowledge had been increased due to reliance on temporary staffing, while the risk associated with Committee member training had been reduced following completion of mandatory training. Furthermore, the risk relating to pool vehicles had also been reduced due to progress in transition arrangements.

·       Mitigation plans were in place for the red risks identified and that budget provision had been made for anticipated staffing costs.

In response to Members, the following was noted:

·       Mitigation plans were in place for the red risks identified.

·       Provision had been made in the budget for staffing costs and that expenditure was expected to align broadly with forecasts could be confirmed.

The Committee Resolved 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.