The Brent Pension Board met on Thursday 6 November 2025 to discuss a range of issues, including updates to the Local Government Pension Scheme, the Brent Pension Fund's risk register, and the fund's investment strategy. The board was also scheduled to review the fund's annual report and accounts, and to discuss the triennial valuation and funding strategy statement. Some of the discussion was scheduled to take place after the exclusion of the press and public.

2025 Triennial Valuation and Funding Strategy Statement

The board was scheduled to discuss the 2025 triennial valuation¹ and funding strategy statement (FSS). According to the agenda, the report was intended to provide an update on the 2025 Triennial Valuation & Funding Strategy Statement (FSS) review. The agenda noted that the report also included details on the Whole Fund Result as an exempt appendix, which was scheduled to be considered in the closed session of the meeting. A supporting drafting guide for the Brent and the LB Brent Pension Fund - 2025 Funding Strategy Statement were included as appendices to the report.

Following on from this, the board was scheduled to be provided with details of the update provided for the Pension Fund Sub Committee on the Triennial Valuation Whole Fund results, before discussing the 2025 Triennial Valuation and Contribution Rate Modelling. According to the agenda, the purpose of this report was to update the committee on the 2025 Triennial Valuation and provide members with the Contribution Rate Modelling.

Investment Strategy Review

The board was scheduled to receive an update on the investment strategy review being carried out by the Fund's investment advisor, Hymans Robertson. According to the agenda, the review's purpose was to:

evaluate the current investment strategy and analyse the ability of alternative strategies to meet the Fund's strategic objectives.

London CIV Update

The board was scheduled to receive an update on recent developments regarding Brent's Pension Fund investments held with the London CIV².

Investment Monitoring Report

The board was scheduled to receive the Brent Pension Fund Q2 2025 - 26 Investment Monitoring Update Report. The agenda noted that the fund manager performance ratings would be discussed in the closed session of the meeting.

Brent Pension Annual Report & Accounts 2024/25

The board was scheduled to discuss the Brent Pension Fund Annual Report & Accounts for the year 2024/25.

Local Authority Pension Fund Forum (LAPFF) Engagement Report

The board was scheduled to receive an update on engagement activity undertaken by the Local Authority Pension Fund Forum (LAPFF)³ on behalf of the Fund.

Local Government Pension Scheme (LGPS) Update

The board was scheduled to receive an update on recent developments within the Local Government Pension Scheme (LGPS)⁴ regulatory environment and any recent consultations issued which would have a significant impact on the Fund. The agenda included the following appendices:

• LGPC Bulletin July
• LGPC Bulletin August
• LGPC Bulletin September
• Consultation on LGPS England and Wales Scheme Improvements Access and Protection

Risk Register

The board was scheduled to discuss the updated Risk Register for the Brent Pension Fund Administration Service.

Pension Administration Update

The board was scheduled to receive an update on various pension administration matters as part of its remit to oversee administration of the Brent Pension Fund.

Training Update

The board was scheduled to receive an update on the provision of the LGPS Online Learning Facility. The agenda included the Brent Pension Fund Training Plan and the Brent Pension Fund Training Strategy as appendices.