The Pensions Board will receive an update on the recent Pensions Investment Review launched by the Chancellor in August, and will also receive an update on the LGPS Central Pool, which manages investments for a number of local government pension schemes. They will also consider a report on internal audit recommendations, and discuss exempt minutes from a previous meeting.

Pensions Investment Review

The Board will receive a report on the progress of the Pensions Investment Review, which was launched by the Chancellor, Rachel Reeves, on 16 August 2024. The review called for evidence on a number of topics, with submissions closing on 25 September 2024. The report will note that:

LGPS Central Pool representatives had attended various meetings with Ministers and representatives from HM Treasury and MHCLG, and Officers had collaborated with colleagues across the LGPS Central Pool to develop a response.

The Board will also consider the Council's response to the call for evidence. The response was submitted to HM Treasury before the deadline, and was jointly approved by the Director of Finance and the Chair of the Pensions Committee.

Internal Audit Reports - Recommendations Progress Log

The Board will consider a report on the progress of recommendations made in recent internal audit reports. Two reports will be considered; one on the effectiveness of governance arrangements in place at the Staffordshire Pension Fund, and the other on pensions administration.

LGPS Central Pool - Local Pensions Board Chairs Meeting

The Board will receive notes from the Local Pensions Board Chairs meeting that took place on 21 October 2024.

Exempt Minutes

The Board will discuss exempt minutes from the meeting held on 28 June 2024. The minutes are exempt from public inspection under Schedule 12A of the Local Government Act 1972.