Agenda

Members of the public who wish to speak at this meeting can attend the meeting in person or ‘virtually’ through an online connection. To facilitate ‘hybrid’ meetings we ask that requests to speak are submitted by no later than 9.00 a.m. four working days before the meeting: 9.00 a.m. on Monday 3 March 2025.

Requests to speak should be sent 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 9.00 a.m. 2 working days before the meeting: 9.00 a.m. 05 March 2025. Written submissions should be no longer than 1 A4 sheet.

To approve the minutes of the meeting held on 13 December 2024 (PF3) and to receive information arising from them.

10:20

A copy of the unconfirmed Minutes of the Local Pension Board, which met on 24 January 2025 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 January 2025.

The Committee is RECOMMENDED to note the comments of the Board as set out below.

10.30

This report proposes a Business Plan, Budget and Training Plan for the forthcoming financial year. The report also includes a review against the key priorities set out in the Annual Business Plan for 2024/25.

The Committee is RECOMMENDED to:

i)      Note the progress against the service priorities for 2024/25; and

ii)    Approve the Business Plan, Budget, Training Plan and Cash Management Strategy for 2025/26

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 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. 

11.00

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 report also covers the recent Cyber Security review undertaken by the Fund.

The Committee is RECOMMENDED to:

i)      Note the Fund’s update on the Pension Regulator’s General Code of Practice. 

ii)    Note the Fund’s annual review of Cyber Security.

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

iv)      Note the communications update

11.10

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 note the decision made on the Fire Remedy project by the delegated Manager on behalf of the Pension Fund Committee.

11:25

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 report includes the quarterly investment performance monitoring report from Brunel. 

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.