The Pension Investment Sub-Committee met on Monday 14 September 2026. The meeting's agenda included updates on pension investment performance and asset class solutions, as well as a discussion on an updated equity protection governance framework for LGPS Central.

Pensions Investment Performance Update

The sub-committee was scheduled to receive an update on the performance of the council's pension investments. This item covered a significant portion of the report pack, indicating a detailed review of investment returns and strategies.

LGPS Central Asset Class Solutions and Transition Update

Another key item on the agenda was an update regarding LGPS Central's asset class solutions and any ongoing transitions. This would have provided information on how the Local Government Pension Scheme (LGPS) Central is managing its investments across different asset classes and any changes being made to its investment portfolio.

Updated Equity Protection Governance Framework: LGPS Central

The sub-committee was also set to consider an updated equity protection governance framework for LGPS Central. This framework is designed to manage risks associated with equity investments within the LGPS Central pool. The report pack indicated that this item was scheduled for discussion, with a recommendation likely to have been made regarding the framework's adoption or amendment. However, it is not possible to determine from the provided documents whether any decisions were made or if the recommendation was followed.

The meeting was scheduled to take place at Wildwood, Room GW-12 (Board Room), Wildwood Drive, Worcester, WR5 2QT. Attendees included Councillor Louis Stephen (Vice-Chair of Pensions Committee and Vice-Chair of Pension Investment Sub-Committee), Councillor Adrian Hardman (Conservative Group Leader and Chair of Pension Investment Sub-Committee), Councillor Peter Stoddart (voting co-opted member from Herefordshire Council), David Stevens (non-voting employee representative), and Simon Lewis (Committee Officer). A vacancy was also noted on the sub-committee.

The agenda also included standard procedural items such as apologies, declarations of interest, public participation, confirmation of previous minutes, and the exclusion of the press and public for certain items where exempt information was likely to be disclosed. The rules for disclosing interests, including disclosable pecuniary interests and other disclosable interests, were outlined in the agenda documents.

The report pack for the meeting can be accessed via the Worcestershire Council website, with the specific documents including the Appendix to Agenda item 8 - Updated Equity Protection Framework LGPS Central 14th-Sep-2026 14.00, the Public reports pack 14th-Sep-2026 14.00 Pension Investment Sub-Committee, and the Agenda frontsheet 14th-Sep-2026 14.00 Pension Investment Sub-Committee.