The LGPS Local Pension Board of Lincolnshire Council was scheduled to consider a range of reports updating the Board on the Pension Fund's activities and compliance. Key discussions were scheduled to include the Fund's financial performance for the quarter ending 31 March 2026, compliance with regulations, administration updates, and an annual review of the risk register. The Board was also scheduled to review the draft Annual Report and Accounts for 2025/26, alongside the external auditor's year-end report, and to consider the Fund's training strategy and work plan for the upcoming year.

Pension Fund Update Report

The Board was scheduled to receive an update on the Pension Fund's matters for the quarter ending 31 March 2026. This report, prepared by Jo Kempton, Head of Lincolnshire Pension Fund, was scheduled to cover the Risk Register update, asset pooling developments, the Fund Custodian arrangements, the contract for Actuarial, Benefits, and Governance Services, and the appointment of an Independent Person. The report was scheduled to recommend that the Board consider and discuss its contents and determine if any further action or information was required.

Compliance Report

A report on the Fund's activity and the Pensions Committee's actions was scheduled to be presented to provide assurance on compliance with regulations and procedures. This report, also prepared by Jo Kempton, was scheduled to cover updates on the Breaches Register, the Risk Register, compliance with the 'Fit for the Future' regulations, Fund Custodian arrangements, Pensions Committee meetings, the tender for Actuarial, Benefits, and Governance Services, the Independent Person appointment, and the Investment Consultancy Arrangement. The report was scheduled to recommend that the Board consider and discuss its contents and determine if any further action or information was required.

Pensions Administration Report

The Board was scheduled to receive the quarterly report from the Fund's pension administrator, West Yorkshire Pension Fund (WYPF). Prepared by Matt Mott, Head of Governance and Business Development at WYPF, this report was scheduled to update the Board on current administration issues, including performance against key performance indicators (KPIs) for the period 1 April 2026 to 30 June 2026. The report was scheduled to detail reasons for any underperformance against targets, provide scheme membership numbers, and outline member and employer contact activities, including employer and member training sessions. It was also scheduled to cover updates on the Internal Dispute Resolution Procedure (IDRP), cases with the Pensions Ombudsman (TPO), shared service updates, regulatory updates including the Data (Use & Access) Act 2025, web registrations for the member portal, and progress on the McCloud remedy and Pensions Dashboard initiatives. The report was scheduled to recommend that the Board discuss the activity and performance of the administration service during the last quarter.

Risk Register Annual Review

Jo Kempton, Head of Lincolnshire Pension Fund, was scheduled to present the Pension Fund Risk Management Policy and Risk Register for the Board's annual review. The report was scheduled to outline the key risks across Governance, Investment and Funding, Operational, and People categories, along with their current status, direction of travel, and the mitigations and controls in place. The Board was scheduled to review these risks and make recommendations for any changes before they were presented to the Pensions Committee in January for approval.

Annual Report and Accounts 2025/26

The Board was scheduled to receive the Draft Annual Report and the Draft External Auditor's Year End Report from KPMG, the Fund's External Auditor. Prepared by Claire Machej, Accounting, Investment and Governance Manager, this report was scheduled to bring the Draft Annual Report and the Draft Auditor's Year End Report for the audit of the 2025/26 financial statements to the Board. The Board was scheduled to consider and discuss these documents and the feedback from the external auditor.

Internal Audit Assurance

Jo Kempton, Head of Lincolnshire Pension Fund, was scheduled to introduce a paper from the Head of Internal Audit, Claire Tomlin, outlining the internal audit approach to gaining assurance on the management of the Pension Fund. This report was scheduled to cover the role of internal audit, its approach, and the Pension Fund's sources of assurance. The Board was scheduled to consider and discuss this paper.

Fund Training Strategy, Annual Pension Board Training and Work Plan

Claire Machej, Accounting, Investment and Governance Manager, was scheduled to present the Fund's Training Strategy and the Annual Board Training and Work Plan for the period November 2026 to July 2027. This plan was scheduled to be developed from the results of a recent knowledge and skills assessment and the Board's evolving needs. The Board was requested to approve the Training Strategy, discuss and agree proposed training areas, approve the Annual Training Plan, and review the future work programme, highlighting any additional activities for inclusion.

The meeting was scheduled to commence with apologies for absence and declarations of interest, followed by the approval of the minutes from the previous meeting held on 16 July 2026.

The full agenda and associated reports can be found in the public reports pack¹.