The Pension Fund Committee of Buckinghamshire Council met on Tuesday 17 March 2026, approving several key governance documents and noting updates on the fund's audit, treasury management, and investment pooling. The committee also reviewed the triennial valuation and the fund's performance.

External Audit

The committee received an update on the completion of the external audit for the 2024/25 financial year. James Gilliland, Pensions and Investment Accountant, presented the report, which confirmed that there were no additional recommendations from the version previously reviewed by the committee in December 2025. The final signed accounts were published alongside the Buckinghamshire Council's accounts, and the Pension Fund Annual Report 2024/2025 was updated and published online.

Governance & Compliance Update

Significant updates were presented regarding the fund's governance and compliance. Claire Lewis-Smith, Pensions Administration Manager, highlighted revisions to the Communication Policy Statement, including monthly prompts for users of the 'My Pension Online' platform and a new secure employer area with on-demand training videos. The Data Improvement Policy and Plan has been updated to align with The Pensions Regulator's General Code of Practice, enhancing data quality monitoring and clarifying responsibilities. The Governance Compliance Statement was temporarily updated due to regulatory changes, and the Pension Administration Strategy included amendments to employer training, valuation processes, and performance management.

The committee resolved to approve the Communication Policy Statement, Data Improvement Policy & Plan, Governance Compliance Statement, and Pension Administration Strategy.

Treasury Management Service Level Agreement

The committee reviewed the report on the provision of treasury management services by Buckinghamshire Council to the Buckinghamshire Pension Fund for 2025/26 and noted the arrangements for investing the fund's surplus cash balances for 2026/27.

The committee resolved to note the report.

Forward Plan

The committee resolved to note its upcoming work programme.

31 March 2025 Triennial Valuation

Following a detailed discussion, the committee resolved to note the Buckinghamshire Pension Fund Actuarial Valuation as at 31st March 2025 and to approve the Funding Strategy Statement.

Pooling Update

The committee considered the progress and plan for the transition of the fund to the London CIV LGPS Pool.

The committee resolved to:

• Note the progress and plan for the transition to the London CIV LGPS Pool.
• Approve the delegation of signing the necessary governance documentation to join the London CIV to the Assistant Chief Finance Officer (Pensions and Projects), in consultation with the Chairman of the Pension Fund Committee and the s151 Officer of Buckinghamshire Council, following legal review and clearance.
• Approve delegation to the Chairman of the Pension Fund Committee for the approval of any temporary cash positions outside the 0-4% cash range during the three-month transition period.

Investment Strategy / Strategic Asset Allocation Review

Members of the committee resolved to approve the Interim Investment Strategy Statement, which incorporates the new Strategic Asset Allocation agreed in December 2025.

Pension Fund Performance

Following discussion, members noted the investment performance of the Buckinghamshire Pension Fund for the third quarter of 2025-26, ending 31 December 2025.

Pension Fund Risk Register

The committee noted the Pension Fund Risk Register following discussion.

Date of Next Meeting

The date of the next meeting was noted as 29 June 2026 (Provisional).