The Pensions Committee of Worcestershire Council is scheduled to meet on Wednesday, 18 March 2026, to review several key reports concerning the management and performance of the pension fund. Discussions are expected to cover the latest valuation update, the pension fund's business plan, and updates on governance, compliance, and investment strategies.

Pension Fund Valuation Update

A significant portion of the meeting is dedicated to a review of the pension fund's valuation. The report pack includes the 2025 Final Draft Results Report PC 2026 03 18 Valuation Update - App1 2025 Final Draft Results Report.pdf, alongside the Funding Strategy Statement PC 2026 03 18 Valuation Update - App2 2025 Funding Strategy Statement.pdf and a summary of the 2025 Valuation FSS Consultation PC 2026 03 18 Valuation Update - App3 2025 Valuation FSS Consultation Summary.pdf. The committee will also consider the 2025 Valuation Governance Audit Trail PC 2026 03 18 Valuation Update - App4 2025 Valuation Governance Audit Trail.pdf. These documents are crucial for understanding the financial health and long-term sustainability of the pension fund.

Business Plan Review

The committee's agenda includes a review of the pension fund's Business Plan PC 2026 03 18 Business Plan - App1 BP.pdf, with a cover report PC 2026 03 18 Business Plan Cover Report.pdf and supporting information from I-Connect Employer Log PC 2026 03 18 Business Plan - App2 I-ConnectEmployerLog.pdf. This discussion will likely focus on the strategic objectives and operational plans for the pension fund.

Governance and Compliance Updates

Several reports are scheduled for discussion under the Governance and Compliance Update. These include the Funding Strategy Statement PC 2026 03 18 Governance and compliance Update - App1 Funding Strategy Statement.pdf, the Good Governance Position Statement PC 2026 03 18 Governance and Compliance Update - App2 Good Governance Position Statement.pdf, and the Conflicts of Interest Policy 2026 PC 2026 03 18 Governance and compliance update - App5 Conflicts of Interest Policy 2026.pdf. The committee will also receive a cover report PC 2026 03 18 Governance and Compliance Update Cover Page.pdf for this agenda item.

Investment Strategy and Climate Change Risk

The committee is set to review updates to the Investment Strategy Statement PC 2026 03 18 Investment Strategy Statement Cover Paper.pdf, which includes guidance from the Ministry of Housing, Communities and Local Government PC 2026 03 18 Investment Strategy Statement - App1 MHCL Guidance.pdf. This discussion will also encompass the Climate Change Risk Strategy.

Other Agenda Items

The meeting will also include a review of minutes from the Pension Board and Pension Investment Sub-Committee PC 2026 03 18 PISC - PB Minutes.pdf. Updates on training initiatives PC 2026 03 18 Training Update Cover Report.pdf, including a draft training strategy PC 2026 03 18 Training Update - App1 Draft Training Strategy.pdf, a training calendar PC 2026 03 18 Training Update - App2 Training and Conferences Calendar.pdf, and an example learning dashboard PC 2026 03 18 Training Update - App4 Example Learning Dashboard.pdf, are also scheduled. The committee will consider the Forward Plan PC 2026 03 18 - Forward Plan.pdf and its appendix PC 2026 03 18 - Forward Plan Appendix.pdf.

The agenda also indicates that the committee may resolve to exclude the public and press for specific items relating to financial or business affairs, including updates from LGPS Central PC 2026 03 18 LGPS Central Update.pdf, the Pension Fund Budget Forecast Outturn for 2025/26 and updated indicative budgets for 2026/27 to 2028/29 PC 2026 03 18 Pension Fund Budget Forecast Outturn 202526 and Updated Indicative Budgets 202627 to 202829.pdf, and a Pension Investment Update PC 2026 03 18 Pension Investment Update.pdf.

The meeting is scheduled to take place in the Council Chamber at the Civic Centre, Queen Elizabeth Drive, Pershore. WR10 1PT. The committee members include Councillor Adrian Hardman (Chairman), Councillor Sam Ammar, Councillor Matt Jenkins (Vice Chairman and Green And Independent Alliance Group Leader), Councillor Bill Hopkins, and Councillor Rob Wharton (Deputy Leader and Cabinet Member with Responsibility for Finance and Corporate Services). Co-opted members are Jayne Pickering (Employer Side), David Stevens (Employee representative), and Councillor Peter Stoddart (Herefordshire Council Representative).