The Pension Fund Board of Buckinghamshire Council was scheduled to consider a range of governance, compliance, and performance-related matters. Key discussions were expected to include updates on the Pension Fund's performance, a review of its risk register, and an update on the ongoing Pensions Dashboard Programme.

Governance and Compliance Update

The Board was scheduled to receive an update on various governance and compliance matters. This included progress on the Pensions Dashboard Programme (PDP), which aims to provide individuals with a consolidated view of their pension savings. The report was expected to detail the Fund's connection to the dashboard and any remaining actions, particularly concerning Additional Voluntary Contributions (AVCs).

Additionally, the Board was scheduled to review the Fund's adherence to The Pensions Regulator's (TPR) General Code of Practice. This code sets out standards for pension scheme governance and administration. The report was expected to highlight areas where the Fund meets full compliance and areas requiring further work, referencing an independent review by Barnett Waddingham.

The Board was also scheduled to consider updates on the Fit for the Future reforms, which are introducing significant changes to LGPS governance and investment frameworks. This includes new statutory guidance on fund governance, asset pooling, and the Investment Strategy Statement (ISS). The report was expected to outline the implications of these reforms for Buckinghamshire Council.

A key item was the Training Strategy, which sets out how the Council will ensure that those involved in the Fund's management and decision-making acquire and maintain the necessary knowledge and understanding. The Board was scheduled to note this strategy, which aligns with new regulatory requirements.

Furthermore, the Board was scheduled to note the appointment of Carolan Dobson as the Fund's Independent Person and Richard Sultana as the Senior LGPS Officer, roles mandated by recent LGPS regulations.

Risk Register Update

The Board was scheduled to review an update to the Pension Fund's Risk Register. This register is a key component of the Fund's governance and internal control framework, identifying, assessing, managing, and monitoring risks that could impact its statutory responsibilities and strategic objectives. The report was expected to detail a revised four-area structure for the register, reflecting the Fund's principal activities.

Key updates highlighted were expected to include the addition of a new risk, RS-PI-21 Pool selection performance, to monitor the performance of London CIV (LCIV). Other updates were anticipated for risks related to Climate and ESG, Setting Scheme Benchmarks, and the Change of Pool from Brunel to LCIV. The report was also expected to provide assurances on cyber resilience, the embedding of risk management into fund practices, and the adaptation to regulatory changes.

Annual Benefit Statements - Administration Year End Update

The Board was scheduled to receive an update on the administration year-end for Annual Benefit Statements. This report was expected to confirm that all active and deferred benefit statements were issued by the statutory deadline of 31 August 2026, as required by the Local Government Pension Scheme Regulations 2013.

Administration Performance Statistics

An update on the administration performance statistics was scheduled for discussion. This report was expected to provide a review of the Pensions Administration team's performance, covering incoming communications, workload and performance levels, employer submissions and data reconciliation, and ongoing projects.

Key performance indicators were expected to be presented, including the percentage of calls answered and average queue times, the number of workflow cases created and completed, and the percentage of cases completed within target turnaround times. The report was also expected to detail the status of open and overdue cases, noting that a significant proportion are awaiting information from external parties.

Updates on specific projects were also anticipated, including the Annual Allowance project, where 57 members were identified as potentially exceeding the limit, leading to the issuance of 30 Pension Savings Statements. A verbal update on the McCloud project was also scheduled. Furthermore, the report was expected to cover progress on Access & Fairness regulations, including the recalculation of death grants and survivor benefits due to retrospective changes.

Other Scheduled Items

The Board was also scheduled to consider:

• Minutes of the Pension Fund Board (from a previous meeting).
• Minutes of Pension Fund Committee (from a previous meeting).
• Action Log Update.
• Breaches of the Law.
• Risk Register.
• Forward Plan.
• Administration Performance Statistics - Contributions.
• Confidential Minutes of Pension Fund Board.
• Confidential Minutes of Pension Fund Committee.
• Pension Fund Performance.
• Pooling Update.
• Draft Investment Strategy Statement.

The meeting was scheduled to take place at The Oculus, Buckinghamshire Council, Gatehouse Road, Aylesbury HP19 8FF. The attendees included Peter Dearden (Vice-Chairman), Philip Farquharson, Jack Jennings, Daniel Leaver, Anna Rulton, Ian Thompson (Chairman), Paul Wheeler, and Jo Whiteley. Harry Thomas was listed as a contact for further information.