The Cornwall Pension Fund Local Pension Board met on Wednesday 03 December 2025 to review updates from the Benefits and Governance teams, and to consider items from recent Pensions Committee meetings. The Board was scheduled to discuss the Fund's administrative workload, risk management, investment performance, and responsible investment initiatives.

Benefits Team Update

The Board was scheduled to receive an update on the Cornwall Pension Fund's (CPF) administration activities for the quarter ending 30 September 2025. This included an overview of the Fund's membership movements, the status of unprocessed leavers and unclaimed refunds, and an update on the My Pension Online self-service portal. The report also detailed measures of administration workload volumes and key performance indicators (KPIs), alongside information on death grants paid. Updates were also expected on the CPF team's staffing and training, and on employer services, including communications and training provided to employers. A progress update on the Pensions Dashboard Programme and a summary of discussions from the South West Area Pensions Officers Group (SWAPOG) meeting were also on the agenda. The report recommended that the Pension Board note the update and seek any necessary clarifications from officers.

Governance Update

A comprehensive governance update was scheduled for discussion, covering various aspects of the Fund's oversight and operational framework. This included an update on the payment of contributions, a review of the Risk Register, and the Fund's Attendance and Training Record. The Board was also to receive an update on the Quarterly Training Survey, a valuation update for the Cornwall Pension Fund, and a report on the Fit for the Future governance requirements. Discussions were also planned regarding the Access and Protections government consultation, the Employer Risk Management Policy, and the Policy on Academy Funding. Minor amendments to the Fund's Cessation Policy were to be presented, alongside a mid-year review of the Pension Fund Work Plan and the Local Pension Board Work Plan. The recommendation was for the Pension Board to note the governance update and request further information from officers as needed.

Items from Pensions Committee Meetings - Part 1

The Board was scheduled to review items from the Pensions Committee meetings held on 18 September and 30 October 2025. These included updates on investments, responsible investment activities, and the Brunel Pension Partnership. The Board was also to consider the Financial Statements for 2024-25, the Audit Findings Report, the Annual Report 2024-25, and the Responsible Investment Outcomes Report 2024-25. An administration update was also on the agenda, along with the minutes from the aforementioned Pensions Committee meetings. The recommendation was for the Board to note these items and associated recommendations approved by the Pensions Committee, and to seek any necessary clarifications from officers.

The meeting also included scheduled items for the exclusion of the press and public to discuss exempt information relating to financial or business affairs.