Agenda and decisions

RESOLVED:

a)    That the proposed change to introduce a corridor approach for the Fund’s cessation methodology be noted.

b)    That it be noted that the Fund’s final Funding Strategy Statement will be brought to the 20 March 2026 Pension Committee meeting for approval.

RESOLVED:

a)    That the changes to the 2026 target SAA allocation as described at paragraph 22 to 28 of the report, and summarised at the table at point 28, which includes a 1% initial allocation to Local Investments across the four asset classes, private equity, property, infrastructure and private credit, be approved.

b)    That it be agreed that two asset class reviews be undertaken:  depending for listed equity and investment grade credit, with outcomes of the reviews to be presented to the relevant Committee meeting during 2026.

RESOLVED:

That the update on Fit for the Future and LGPS Central Pooling report and presentation be noted.

RESOLVED:

a)    That the draft Investment Strategy Statement (ISS) be noted.

b)    The it be agreed that consultation on the ISS with scheme employers commence.

RESOLVED:

That all members of the Local Pension Committee be requested to complete the training needs assessment if not yet completed by 31 January 2026.

RESOLVED:

That the draft Responsible Investment Plan be noted.

The date of the next meeting is scheduled for 20 March, 2026 at 10.00am.