The Hillingdon Council's Pensions Committee was scheduled to meet to discuss a range of topics, including a petition on Local Government Pension Scheme (LGPS) divestment, the fund's investment strategy, responsible investment practices, and governance matters. The committee was also expected to review the fund's risk register and administration report. Additionally, there were several items listed for discussion in Part II of the meeting, which was to be held with members only.

Here's a more detailed look at the topics on the agenda:

Petition on LGPS Divestment

The committee was scheduled to consider a petition from local residents and members of the Hillingdon Palestine Solidarity Campaign (HPSC). The petition requests that Hillingdon Council divest its pension fund investments from companies alleged to be complicit in violations of Palestinian rights, including arms companies. The lead petitioner was expected to address the committee.

Investment Strategy and Fund Manager Performance

The committee was to review the investment strategy and fund manager performance for the quarter ending 30 September 2025. This included a review of the funding and liabilities, investment performance, and asset allocation. The LCIV Executive Summary and Hymans Interim Valuation report were provided for review. According to the Investment Strategy and Fund Manager Performance Update Part 1, the committee was expected to note the funding and performance update.

The Hymans Interim Valuation - Funding update at 30 Sep 2025 report indicated that the estimated funding position at 30 September 2025 showed a funding level of 146%, up from 88% at 31 March 2022.

Responsible Investment Update

The Pensions Committee was scheduled to receive an update on responsible investment, including fund managers' Environmental, Social, and Governance (ESG) activities and compliance efforts. The Responsible Investments Update included a breakdown of voting statistics by LGIM, and London CIV (Ruffer, Wellington and Baillie Gifford). The committee was expected to note the fund managers' ESG activities and compliance efforts, as well as the activities of the London CIV and LAPFF.

Risk Management Report

The committee was scheduled to consider the Risk Management Report, which identifies the main risks to the Pension Fund. The council's risk management software, JCAD, permits all 14 risks to be classified into two categories, open and closed risks. The committee was expected to consider and agree the Risk Register in terms of the approach, the specific risks identified, and the measures being taken to mitigate those current risks, and note the format agreeing the retired risks and those which remain open.

Governance

The Governance report included several items for the Pension Committee to review. These included the dates for Pensions Committee meetings, the Committee Work Plan, the Committee's Continuous Professional Development update, and the General Code of Practice (GCoP) Update. The committee was also expected to consider a Draft Funding Strategy Statement for Consultation, a Revised Internal Dispute Resolution Procedure Guide, and a Revised Pensions Administration Strategy Statement.

The Draft Funding Strategy Statement sets out the approach for ensuring the Local Government Pension Scheme (LGPS) remains solvent, affordable, and sustainable. The Revised Internal Dispute Resolution Procedure (IDRP) Guide provides a straightforward step for employees of how the internal dispute resolution procedures operate in the Local Government Pension Scheme. The Revised Pension Administration Strategy Statement has been revised to include provisions of the Pensions Dashboard Regulations 2022 and clearly spell out responsibilities of both the fund and employers.

Part II Items

The agenda included three items to be discussed in Part II of the meeting, which was to be held with members only. These items concerned governance, and investment strategy.