The Pensions Committee of Cornwall Council is scheduled to meet on Thursday 29 October 2026. The meeting's agenda includes a review of the Cornwall Pension Fund's financial statements for the 2025/26 financial year and the associated annual report.

Cornwall Pension Fund Financial Statements 2025/26

The committee is set to consider the audited financial statements for the Cornwall Pension Fund for the 2025/26 financial year. These statements are to be presented by Grant Thornton, the Fund's external auditor, who will also present their Audit Findings Report. The report indicates that the audit is substantially complete with no expected modifications to the audit opinion. The financial statements themselves are scheduled to be recommended to the Audit Committee for approval as part of Cornwall Council's overall Financial Statements. The report highlights that the Fund's value increased by £134.752 million during the 2025/26 financial year, resulting in a year-end net asset value of £2,660.654 million. The statements detail the Fund's income and expenditure, including contributions received and benefits paid out, as well as the net assets of the scheme.

Cornwall Pension Fund Annual Report 2025/26

The committee will also consider the Cornwall Pension Fund Annual Report for 2025/26. This report is a statutory requirement for Local Government Pension Scheme administering authorities and must be published by 1 December each year. The report details key updates from the year, including the increase in the Fund's value to £2,661 million, the selection of LPPI as the new pooling partner, and the transition of investment assets to this new pool. It also notes the upgrade of the member self-service platform to 'Engage' and provides assurance from the Local Pension Board regarding the Fund's governance and compliance. The report covers the financial year ending 31 March 2026, reflecting the Cornwall Pension Fund as a member of the Brunel Pension Partnership, as the transition to LPPI occurred after the financial year-end. The Responsible Investment section of the Annual Report, detailing progress on responsible investment and climate change commitments, will also serve as the Responsible Investment Outcomes Report for 2025/26.