The Cornwall Pension Fund Local Pension Board is scheduled to meet on Friday 12 June 2026. The meeting's agenda includes updates on the Benefits Team's activities and a review of the Fund's governance. Additionally, the Board will consider items from a previous Pensions Committee meeting.

Benefits Team Update

The Board is scheduled to receive an update on the activities of the Cornwall Pension Fund's Benefits Team. This report covers the quarterly scheme update, providing an overview of the Fund's status, including active and non-active roles, and details on unprocessed leavers and unclaimed refunds. It will also cover updates on the Member Self-Service platform, administrative workload volumes and Key Performance Indicators (KPIs), and death grants. The report will also include an update on the Benefits Team itself, covering staffing, training, and customer feedback, as well as an update from Employer Services and the South West Area Pensions Officers Group (SWAPOG) meeting. A complaint regarding an estimated transfer value discrepancy is detailed, along with lessons learned and system enhancements made to improve audit trails. Information on employer changes, communications, and training is also provided.

Governance Update

A comprehensive governance update is scheduled for discussion. This includes information on the payment of contributions, a review of the Risk Register, and the Fund's Attendance and Training Record. The update will also cover the implications of the Fit for the Future consultation on governance, how this informs the Audit Risk Assessment, and the 2025/26 Audit Plan. The Administration Strategy Statement, an Additional Voluntary Contributions (AVC) Review, and the Local Pension Board Work Plan are also on the agenda. Key governance changes arising from the Fit for the Future consultation are detailed, including the requirement for a Senior LGPS Officer and an Independent Person, alongside the process for independent governance reviews and the annual publishing of strategies and policies. The report also outlines the Fund's position and next steps regarding pooling governance and the alignment of knowledge and understanding requirements.

Items from Pensions Committee Meeting - Part 1

The Board is scheduled to consider items from the public part of the Pensions Committee meeting held on 12 March 2026. These include the 2025 Final Actuarial Valuation Report, which details the Fund's funding level and employer contribution rates for the period 2026-2029, incorporating new requirements for gender pension gap and climate risk reporting. The Cornwall Pension Fund Business Plan for 2026/27 to 2028/29, outlining priorities and objectives, will also be reviewed. Updates on Investments, including fund performance, asset allocation, and market background, will be presented, alongside a Responsible Investment Update detailing progress on emission reductions, new product development, real-world impact, stewardship and engagement, and support for industry initiatives. An update on the Brunel Pension Partnership will cover the transition to LPPI, the wind-down of Brunel, and the Shareholder Agreement. An Administration Update, summarising the Fund's administration activity and communications, will also be considered.

Any Other Business

The agenda allows for any other urgent business to be raised, provided the Chairman certifies it as urgent.

Exclusion of the Press and Public

The Board will consider a resolution to exclude the press and public from a portion of the meeting. This is due to the likely disclosure of exempt information relating to the financial or business affairs of individuals or the authority itself. This will be followed by a discussion of Items from Pensions Committee 12 March 2026 Meeting - Part 2 , which is also designated as exempt from publication.