This meeting was about a range of issues relating to the administration, investment and governance of the Cornwall Pension Fund. The Board were scheduled to receive updates from officers, consider reports on recent activity, and review the Board and the Fund's work plans. The documents provided do not tell us what was actually discussed during the meeting or whether any decisions were made.

Administration

The meeting was scheduled to receive the Benefits Team Update - Report.

The report included an update on the number of:

• new starters, leavers and total active members in the Fund;
• members using the My Pension Online service¹;
• death grants paid during the last quarter; and
• compliments and complaints received.

The report also included an update from the latest meeting of the South West Area Pensions Officers Group, which is a meeting of pension officers from different local authorities in the South West.

Risk Management

The Board was scheduled to consider the Cornwall Pension Fund Local Pension Board - Governance Update - Report.

The report provided an update on:

• whether all employer contributions had been paid;
• the Fund's cybersecurity arrangements, including the results of the Fund's Aon Cyber Scorecard submission²;
• progress made by officers on reviewing the Fund's compliance with The Pensions Regulator's General Code of Practice³

The report also included a mid-year review of the Pension Fund Work Plan and a draft updated Risk Management Policy.

Investments

The Board was scheduled to receive the Items from Pensions Committee 19 September and 24 October 2024 Meetings - Part 1 - Report.

The report was a summary of the key items from the two previous Pensions Committee meetings. This included:

• the Investments Update - Part 1 which reported that the total market value of the Fund as at 30 June 2024 was £2,517 million; and that
• the Fund had responded to the Government's call for evidence on the Pensions Investment Review.

The report also included:

• the Responsible Investment Update which provided an update on the Fund's responsible investment activity including an update on the Social Impact Portfolio;
• the Brunel Pension Partnership Update which reported that the Fund had acquired a second affordable housing development comprising of 34 houses on the edge of St Austell; and that
• the Pensions Investment Review: Call for Evidence Response.

Other Business

The Board was also scheduled to:

• approve the minutes of the previous meeting which took place on 4 September 2024;
• receive an update on the McCloud Project⁴; and
• review the progress against the Local Pension Board Work Plan.