The Pension Fund Investment & Administration Panel of Greenwich Council was scheduled to consider a range of important matters concerning the management and governance of the Royal Borough of Greenwich Pension Fund. Key discussions were scheduled to focus on compliance with the Pension Schemes Act 2026, the annual reports of the Pension Board and the Pension Fund itself, and the approval of several key policies including those relating to knowledge and skills, engagement, and conflicts of interest. The panel was also scheduled to review fund manager performance and receive training on procuring pensions.

Pension Schemes Act 2026: Progress and Compliance Monitoring

The Panel was scheduled to receive an update on the progress made in implementing the requirements of the Pension Schemes Act 2026 and associated Local Government Pension Scheme (LGPS) regulations. This Act introduces significant reforms to LGPS investment management, governance, and oversight. The report was expected to detail progress against the Fund's implementation action plan, highlighting key activities completed and those planned to ensure full compliance with the new legislative framework. Workstreams covered included investment pooling, training policies, conflict of interest policies, communications strategy, governance strategy, administration strategy, and the appointment of an Independent Person and a Senior LGPS Officer.

Annual Report of the Pension Board 2025/26

The Panel was scheduled to note the annual report of the Pension Board for the 2025/26 financial year. The Pension Board, established to assist the Royal Borough of Greenwich in its role as scheme manager, aims to ensure the efficient and effective governance and administration of the LGPS. The report was expected to summarise the Board's activities, including reviews of policies, fund performance, and the risk register, as well as detail training received and future plans.

Draft Pension Fund Annual Report and Draft Statement of Accounts as at 31 March 2026

Consideration was scheduled for the draft Pension Fund Annual Report for 2025/26 and the proposed Pension Fund Budget for 2026/27. The Panel was also to review and provide comments on the draft Pension Fund Statement of Accounts for the year ended 31 March 2026. These documents provide a comprehensive overview of the Fund's financial performance, position, and planned expenditure, and are subject to external audit.

Knowledge and Skills Policy and Framework

The Panel was scheduled to agree the Fund's Knowledge and Skills Policy and Framework. This policy outlines how the Royal Borough of Greenwich Pension Fund will ensure that Panel members, Pension Board members, and relevant officers maintain the necessary knowledge and skills to effectively discharge their governance, oversight, and decision-making responsibilities. It addresses induction, training needs assessments, annual training plans, skills gap analysis, and training record keeping, aligning with requirements from The Pensions Regulator (TPR) and CIPFA.

Draft Engagement and Escalation Policy

Approval was scheduled for the Pension Fund Engagement and Escalation Policy. This policy establishes a formal framework for stewardship, engagement, and escalation activities undertaken on behalf of the Fund, supporting the implementation of the Fund's Responsible Investment Policy. It outlines a structured approach to identifying engagement priorities, monitoring progress, and considering escalation actions where engagement with the London Collective Investment Vehicle (LCIV) and its investment managers is unsuccessful.

Conflict of Interest Policy

The Panel was scheduled to approve the Conflicts-of-Interest Policy for the Pension Fund Investment and Administration Panel. This policy sets out the Fund's approach to identifying, monitoring, and managing actual, potential, and perceived conflicts of interest, in line with Regulation 55A of the Local Government Pension Scheme Regulations 2013. It aims to ensure that decisions are made transparently, accountably, and in the best interests of scheme members and participating employers.

Responsible Investment Matrix - London Collective Investment Vehicle

A presentation from the London CIV was scheduled to provide background on the Fund's Responsible Investment Matrix and demonstrate how the LCIV integrates this into its investment process. The presentation was expected to cover how the LCIV offers choices on exclusions and restrictions while maintaining the benefits of pooling.

Fund Manager Performance to 30 June 2026

The Panel was scheduled to note a report detailing the performance of the Royal Borough of Greenwich Pension Fund's investment managers for the period ending 30 June 2026. This report, provided by the London CIV, was expected to offer insights into how individual managers and asset classes have performed against their respective benchmarks.

Training - Procuring pensions

The Panel was scheduled to receive training from the RBG Procurement team on the process of procuring pensions. This session was intended to equip members with knowledge regarding the procurement of pension-related services. A paper-based quiz was also scheduled to follow the training.