Agenda

To receive any apologies for absence from any members of the Committee.

To approve the minutes of the meeting held on Tuesday, 19 March 2024 as an accurate record.

Members are invited to declare any disclosable pecuniary interests

(DPIs) and other registrable and non-registrable interests they may have

in relation to any item(s) of business on today’s agenda.

To receive notice of any business not on the agenda which in the opinion of the Chair, by reason of special circumstances, be considered as a matter of urgency.

This report summarises the background to pooling and the Fund’s response to various issues arising therefrom. It also includes and introduces a presentation to be made by the London Collective Investment Vehicle (the London CIV) as a briefing for London local authority elected members on the ongoing development of the London CIV.

This report presents to the Committee a draft Business Plan for the Fund for financial years 2024/25 to 2026/27 attached as Appendix A. It invites their comments and requests their agreement to the Plan.

The report sets out the Key Performance Indictors, measured against the legal requirements for the administration of the Local Government Pension Scheme for the three-month period up to the end of April 2024.

This report presents the current Breaches of the Law log (in Appendix A) for the Pension Fund and highlights any changes made since the last review carried out at the Pension Committee meeting held on 19 March 2024.

This report presents the current Risk Register (in Appendix A) for the Pension Fund and highlights any changes made since the last review carried out at the Pension Committee meeting held on 19 March 2024.

This report shows a record of training undertaken by the Pension Committee members in Year 2023/24 to 31 March 2024. The report includes a log of training undertaken attached to the report as Appendix A and a log of training completed accessed through the Hymans Robertson training portal to 30 April 2024 attached to this report as Appendix B.

This report presents the current list of documents published on the Fund website as at 30 April 2024 included in the attached Schedule A in accordance with Aon’s recommendation in their governance reviews.

This report advises the Committee of the matters currently being considered by the Local Government Pension Scheme Advisory Board and The Pensions Regulator which are relevant to the Fund. Any implications for the Fund have been noted and are being addressed in consultation with Fund advisers.

The report updates Pension Committee on the Fund’s Investments and current Funding position for the quarter to 31 March 2024.

The report provides an update on the Fund’s performance for the quarter to 31 March 2024.  The report falls into four parts.  Section 1 addresses performance against strategic goals.  Section 2 considers the asset allocation strategy and how that is being applied, specifically current and planned investments.  Section 3 deals with risk management and section 4 summarises updates from any recent investment manager meetings.

The following motion is to be moved and seconded where it is proposed to exclude the press and public from the remainder of a meeting:

“That, under Section 100A(4) of the Local Government Act, 1972, the press and public be excluded from the meeting for the following items of business on the grounds that it involves the likely disclosure of exempt information falling within those paragraphs indicated in Part 1 of Schedule 12A of the Local Government Act 1972, as amended.”

That, under Section 100A(4) of the Local Government Act, 1972, the

press and public be excluded from the meeting for the following items of

business on the grounds that it involves the likely disclosure of exempt

information falling within those paragraphs indicated in Part 1 of

Schedule 12A of the Local Government Act 1972, as amended.

That, under Section 100A(4) of the Local Government Act, 1972, the

press and public be excluded from the meeting for the following items of

business on the grounds that it involves the likely disclosure of exempt

information falling within those paragraphs indicated in Part 1 of

Schedule 12A of the Local Government Act 1972, as amended.