The LGPS Local Pension Board meeting scheduled for 19 March 2026 was set to cover a range of important financial and operational updates for the Lincolnshire Pension Fund. Key discussions were expected to include the fund's performance for the quarter ending 30 December 2025, an overview of pensions administration, the fund's business plan for the next three years, and a crucial update on the 2025 actuarial valuation and funding strategy. The Board was also scheduled to review its work plan and training needs.

Pension Fund Update Report

The Board was scheduled to receive a report from Jo Kempton, Head of the Lincolnshire Pension Fund, providing an update on the fund for the quarter ending 30 December 2025. This report was expected to cover the Breaches Register, the Risk Register, and updates on Asset Pooling. It was also intended to inform the Board about Pension Board membership and provide comments on committee papers.

Pensions Administration Report

A report from Matt Mott of West Yorkshire Pension Fund was scheduled to be presented, detailing the quarterly report of the Fund's administrator for the period of 1 October 2025 to 31 December 2025. This report was expected to cover performance and benchmarking, scheme information including membership numbers, member and employer contact statistics, and updates on the Internal Dispute Resolution Procedure (IDRP) and The Pensions Ombudsman cases. It was also to include a shared service update covering staffing, audits, and budget forecasts, as well as regulatory updates and web registrations.

Lincolnshire Pension Fund – Business Plan

The Board was scheduled to consider the Lincolnshire Pension Fund Business Plan for the financial years 2026/27, 2027/28, and 2028/29. This plan was expected to outline the Fund's introduction, objectives across governance, investments and funding, and administration and communication. It was also to include pension fund statistics, details on resources and budget, a review of the 2025/26 key tasks, and outline key tasks for the next three years. The plan was also to identify key risks and mitigation actions, and provide a forward plan for committee and board meetings.

Fit for the Future Compliance Matrix

A report from Jo Kempton was scheduled to present a compliance matrix against the new LGPS Regulations being introduced following the finalisation of the Pension Schemes Bill. This matrix was intended to detail the requirements, deadlines, current fund position, RAG ratings, mitigations, and compliance plans for the upcoming regulations.

Whole Fund 2025 Valuation Report and Funding Strategy Statement

Claire Machej, Accounting, Investments and Governance Manager, was scheduled to present the Actuarial Valuation Report as at 31 March 2025 and the Fund's final Funding Strategy Statement (FSS). The valuation report was expected to detail the methodology, results, and sensitivities of the valuation, including individual employer contribution rates. The FSS was to outline the Fund's approach to achieving solvency, long-term cost efficiency, maintaining stable employer contribution rates, and seeking investment returns within reasonable risk parameters.

Work Plan and Training Needs

The Board was scheduled to review its work programme and training needs. This included discussing future training requirements, reviewing the current work programme for potential additions, and considering how the Board would contribute to the review of Board scrutiny and future agendas. Progress on mandatory training for Board members, including induction and the LGPS Online Learning Academy (LOLA), was also to be reviewed.

Consideration of Exempt Information

An agenda item was scheduled for the consideration of exempt information, which was not to be circulated to the press and public. This was in accordance with Section 100(A)(4) of the Local Government Act 1972, as it was considered to contain exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972.

Training: Cyber Security Training (West Yorkshire Pension Fund)

An exempt report from Elizabeth Boardall, Chief Technology, Projects and Communications Officer – WYPF, was scheduled to be presented, providing information on the cyber security arrangements in place at West Yorkshire Pension Fund.

It is important to note that this summary is based on the agenda and reports provided for the meeting. It does not reflect any discussions that may have taken place or any decisions that may have been made during the meeting itself.