The Pension Fund Committee of Buckinghamshire Council is scheduled to convene on Tuesday 17 March 2026. The meeting's agenda includes a review of the external audit findings for the 2024/25 financial year, an update on governance and compliance matters, and a discussion on the Treasury Management Service Level Agreement.

External Audit

The committee will receive an update on the external audit for the 2024/25 financial year, presented by James Gilliland, Pensions and Investments Accountant. The Audit Findings Report for the Buckinghamshire Pension Fund's Audited Statement of Accounts for 2024-25 is expected to be noted. This report confirms that there were no additional recommendations from the version previously reviewed by the committee in December 2025, and no material changes to the Pension Fund Accounts have been incorporated into the Buckinghamshire Council's signed accounts. The Pension Fund Annual Report 2024/2025 has been updated to reflect the signed statement of accounts and published on the Fund website.

Governance and Compliance Update

Richard Sultana, Head of Pensions & Investments, and Claire Lewis-Smith, Pensions Administration Manager, are scheduled to present an update on governance and compliance. This report aims to demonstrate Buckinghamshire Pension Fund's regulatory compliance with new and existing legislation. The committee is asked to approve several key documents: the Communication Policy Statement, the Data Improvement Policy & Plan, the Governance Compliance Statement, and the Pension Administration Strategy.

The Communication Policy Statement, last approved in March 2023, has been reviewed and updated to include a monthly procedure for members partially registered for the 'My Pension Online' self-service platform and the introduction of a secure employer area on the website with on-demand training videos.

The Data Improvement Policy and Plan outlines the Fund's approach to maintaining, monitoring, and improving data quality, aligning with legislative requirements and The Pensions Regulator's (TPR) General Code of Practice. This policy emphasizes the importance of accurate, complete, and secure member data for correct benefit calculations, accurate employer funding valuations, and regulatory compliance.

The Governance Compliance Statement, previously approved in March 2025, details the fund's delegation arrangements and compliance with regulatory requirements. An update to point 2.2 reflects that from 1 April 2026, the administering authority will receive professional advice from their investment pool rather than an investment consultant.

The Pension Administration Strategy, first approved in 2010, has been revised to include updates on employer training delivery, revisions to rates and adjustments certificates in the valuation section, and amendments to the charging schedule, including a new clause for full monthly data submissions via i-Connect.

Treasury Management Service Level Agreement

James Gilliland, Pensions and Investments Accountant, will present the Treasury Management Service Level Agreement (SLA) for 2025/26. The report notes that Buckinghamshire Pension Fund maintains relatively small cash balances, with most of its cash managed externally. The Council's Treasury team invests the Fund's working cash in money market funds. The report also details that in previous years, the committee had indicated a preference for borrowing from the market rather than the Council, but as no external market counterparties were willing to lend, the committee agreed that the Fund would borrow from Buckinghamshire Council if necessary. There were no instances during 2025 where the Fund temporarily borrowed cash from the Council. The SLA for 2025/26 is attached as an appendix for review.

Other Scheduled Discussions

The meeting's agenda also includes a review of the Buckinghamshire Pension Board Draft Minutes from 18 December 2025, and a Forward Plan presented by James Gilliland. Additionally, there are items scheduled for discussion that will be held in private, including Confidential minutes of the last meeting and Buckinghamshire Pension Board Confidential Minutes. A significant item, the 31 March 2025 Triennial Valuation, will be presented by Barnett Waddingham. Mark Preston, Assistant Chief Finance Officer - Pensions and Projects, will provide a Pooling Update, and Jason Fletcher, Head of Pooling and Investments, will lead a review of the Investment Strategy / Strategic Asset Allocation. Finally, James Gilliland will present on Pension Fund Performance, and Richard Sultana will provide an update on the Pension Fund Risk Register.