The Pension Board of Lewisham Council is scheduled to meet on Monday 21 September 2026. The meeting's agenda includes updates on the Lewisham Pension Fund's performance, the ongoing implementation of government reforms for the Local Government Pension Scheme (LGPS), and the future work programme.

General Update Report

The Board is scheduled to receive a comprehensive update on the Lewisham Pension Fund. This report will cover the Pension Board's Terms of Reference, which have been reviewed and amended to align with legislative changes and are set to be presented to Full Council for approval. Attendees will also review the draft Pension Fund Annual Report for 2025/26, a statutory document detailing the fund's financial position, investment performance, and governance arrangements. An update from the pension administration team will also be provided, covering recruitment efforts, end-of-year accounting, ongoing audits, and the transition to digital annual benefit statements. Finally, the report will detail changes to the Risk Register, highlighting key current risk areas, including those associated with investment pooling and regulatory pressures.

Pooling Update Report

This report will provide an update on the implementation of the government's Fit for the Future reforms for the LGPS. It will cover progress on investment pooling and portfolio rebalancing through London CIV (LCIV), the procurement of the Pension Advisory and Support Service (PASS), and the introduction of new LGPS roles such as the Senior Officer and Independent Person. The report will also detail key requirements arising from the statutory LGPS guidance published in June 2026, covering asset pooling, fund governance, and investment strategy statements. Specific updates are expected on the rebalancing of the fund's portfolio, including planned transactions to adjust allocations to equities, credit, and government bonds, as well as the ongoing drawdown of commitments within the private markets portfolio. The report will also outline the benefits and expected outcomes of the LCIV PASS service, designed to support the fund in meeting enhanced governance and reporting requirements.

Work Programme

The Board will be presented with an update on the Operational and Strategic items on its Work Programme as at September 2026. This includes planned activities such as updates on the Pension Fund Accounts and the Pension Fund Annual Report, monitoring of investment performance through London CIV reports, and ongoing updates on LCIV pooling. The report also notes that the Terms of Reference will be reviewed every three years and will be removed from the annual work programme. Other items on the work programme include the Annual Business Plan, updates on The Pensions Regulator's General Code of Practice, and the Training Strategy and Training Plan.

Future Meeting Dates

The Board will be informed of future meeting dates, with the next scheduled meetings set for 7 December 2026, 15 March 2027, 28 June 2027, and 27 September 2027.