The Pension Committee of Croydon Council was scheduled to consider a range of financial and administrative matters concerning the Local Government Pension Scheme. Key agenda items included an update on the London Collective Investment Vehicle (London CIV), a review of the Medium Term Business Plan for 2024-27, and reports on pension administration, breaches of the law, and the fund's risk register.

London CIV Update

A report was scheduled to be presented, summarising the background to pooling arrangements and the Pension Fund's response to related issues. This report was intended to introduce a presentation from the London CIV, providing a briefing for elected members on its ongoing development.

Medium Term Business Plan 2024-27

The Committee was scheduled to review a draft Business Plan for the Pension Fund covering the financial years 2024/25 to 2026/27. The agenda indicated that members would be invited to provide comments and give their agreement to the Plan. The draft Business Plan is available in full as Report 2 Appendix A Business Plan 202427 Appendix FINAL.pdf.

Pension Administration Update

A report was scheduled to outline the Key Performance Indicators (KPIs) for the administration of the Local Government Pension Scheme for the three-month period ending in April 2024. These KPIs were to be measured against legal requirements. The report, Report 3 Pension Administration Update.pdf, includes an appendix detailing the Croydon Pensions Admin Team's performance.

Breaches of the Law Report

The Committee was scheduled to review the current log of breaches of the law pertaining to the Pension Fund. The report was to highlight any changes to this log since the previous review at the Pension Committee meeting on 19 March 2024. The relevant log is available as Report 4 Appendix A breaches log Jun 24.pdf.

Risk Register

A report was scheduled to present the current Risk Register for the Pension Fund. This report was also intended to highlight any changes to the register since the last review on 19 March 2024. The Risk Register is detailed in Report 5 Risk Register June 2024.pdf.

Training Update

The Committee was scheduled to receive an update on training undertaken by its members during the 2023/24 financial year, up to 31 March 2024. The report was to include a log of training completed, with a separate log of online training accessed through the Hymans Robertson training portal up to 30 April 2024. The training logs are available as Report 6 Appendix A Pension Committee Training Log to 31 March 24 pdf.pdf and Report 6 Appendix B Hymans On line training to 30 Apr 24.pdf.

Published Fund Documents

A report was scheduled to present the current list of documents published on the Pension Fund's website as of 30 April 2024. This was in line with recommendations from Aon's governance reviews. The list of published documents can be found in Report 7 Documents published on the Fund Website.pdf.

Scheme Advisory Board and Pensions Regulator Updates

The Committee was scheduled to be advised on matters currently being considered by the Local Government Pension Scheme Advisory Board and The Pensions Regulator that are relevant to the Fund. Any implications for the Fund were noted and were to be addressed in consultation with Fund advisers. The update report is Report 8 SAB and TPR update March 2024.pdf.

Quarterly Investment Monitoring Report

This report was scheduled to provide the Pension Committee with an update on the Fund's investments and its current funding position for the quarter ending 31 March 2024. It was to cover performance against strategic goals, asset allocation strategy, risk management, and updates from investment manager meetings. The report is available as Report 9 Part A Progress Report 31.03.24.pdf, with funding details in Report 9 Appendix A LBC Pension Fund - Funding update at 31 Mar 2024.pdf.

The agenda also included provisions for the exclusion of the press and public for certain items, specifically related to the Part B sections of the Quarterly Investment Monitoring Report and the Corporate Bond Transfer to London CIV, due to the likely disclosure of exempt information.