The Pension Fund Committee and Pension Board of Scottish Borders Council met on Thursday 17 September 2026 to discuss a range of financial and policy matters relating to the Pension Fund. Key items on the agenda included the review of the Final Annual Report and Accounts for 2025/26, updates on the Pension Fund's budget, and a review of several key policies.

Pension Fund Risk Register Update

The committee was scheduled to consider a report by the Chief Officer Audit & Risk regarding an update to the Pension Fund Risk Register. This would have provided information on the management of risks faced by the Pension Fund.

General Code of Practice Compliance Tracker

A report by the Director of Finance was scheduled for discussion, detailing the General Code of Practice Compliance Tracker. This would have outlined the Pension Fund's adherence to the General Code of Practice introduced by The Pensions Regulator¹ in March 2024, which consolidates existing codes and sets out expectations for the management of pension schemes.

Final Annual Report and Accounts 2025/26

The committee was set to review the Final Annual Report and Accounts for the Pension Fund for the year ending 31 March 2026. This comprehensive report, prepared by the Director of Finance, would have detailed the fund's financial performance and position. A supplementary item was also to be issued regarding the Annual Report and Accounts for the year to 31 March 2026.

Pension Fund Budget Monitoring to 30 June 2026

A report from the Director of Finance was scheduled to provide an update on the Pension Fund's budget performance up to 30 June 2026, along with projections for the remainder of the financial year. This would have included monitoring of expenditure across investment management, administration, and oversight and governance categories.

Communication Policy Review

The Director of People, Performance and Change was scheduled to present a review of the Communication Policy. This policy, which outlines how the Pension Fund communicates with its members, employers, and other stakeholders, is required to be reviewed annually in line with the Pension Fund's business plan and The Pensions Regulator's General Code of Practice.

Admission Policy Review

A review of the Pension Admission Policy was also on the agenda, presented by the Director of People, Performance and Change. This policy, first established in 2019, details the process for employers seeking admission to the Pension Fund, in line with the Local Government Pension Scheme (Scotland) Regulations 2018.

Overpayment Policy Review

The Director of People, Performance and Change was also scheduled to present a review of the Pension Overpayment Policy. This policy, introduced in December 2022 following a recommendation from Audit Scotland, outlines the procedures for managing and recovering pension overpayments.

Information Update

A briefing paper from the Director of Finance was scheduled to provide an update on various monitored areas and ongoing work within the Pension Fund. This would have covered topics such as the use of Artificial Intelligence (AI) in pensions administration, the issuance of Annual Benefit Statements, updates on the Pensions Administration Team, progress on the 2026 Triennial Valuation, and responsible investment considerations.

Private Business

The meeting was also scheduled to move into private business, where discussions would have taken place on minutes from previous meetings of the Pension Fund Committee and the Pension Fund Investment and Performance Sub-Committee, as well as performance updates and investment-related reports from Isio.