Agenda

Members are invited to declare at this stage of the meeting, the nature and existence of any relevant disclosable pecuniary or personal interests in the items on this agenda and to specify the item(s) to which they relate.

To approve the minutes of the previous Pension Board meeting held on Thursday 7 November 2024 as a correct record.

To consider any matters arising from the minutes of the previous meeting.

This report updates the Pension Board on various pension administration matters as part of its remit to oversee administration of the Brent Pension Fund.

The purpose of this report is to update the Board on the Pension Regulator’s General Code of Practice and Brent’s measures to comply with the new requirements.

The purpose of this report is to update the Board on recent developments within the Local Government Pension Scheme (LGPS) regulatory environment and any recent consultations issued which would have a significant impact on the Fund.

This report presents the updated Risk Register for the Brent Pension Fund Administration Service.

(Agenda republished to include the attached report on 18 March 25)

The purpose of this report is to inform members of the Pension Board and  provide an update on the provision of the LGPS Online Learning Facility.

To receive the Brent Pension Fund Q3 2024-25 Investment Monitoring Report.

This report provides an overview of considerations for moving towards the target infrastructure allocation of 15% of total Fund assets.

To present members with an update on engagement activity undertaken by the Local Authority Pension Fund Forum (LAPFF) on behalf of the Fund.

Notice of items to be raised under this heading must be given in writing to the Deputy Director Democratic Services or their representative before the meeting in accordance with Standing Order 60.

Members are asked to note the provisional schedule of meetings for the 2025-26 Municipal Year:

·             Tuesday 22 July 2025 to be held at 6pm as an online meeting

·             Thursday 6 November 2025 to be held at 6pm as an online meeting.

·             Monday 23 March 2026 to be held at 6pm as an online meeting.

These dates will be subject to confirmation as part of the 2025-26 calendar of Council meetings currently being finalised for approval.

The following items are not for publication as they relate to the category of exempt information set out below, as specified under Part 1, Schedule 12A of the Local Government Act 1972:

Agenda Item 10:      Q3 2024-25 Investment Monitoring Report – Fund Manager performance ratings.

This has been classified as exempt under Paragraph 3 of Part 1 Schedule 12A of the Local Government Act 1972, namely: “Information relating to the financial or business affairs of and particular person (including the authority holding that information).”

Agenda Item 11:      Implementation of Infrastructure allocation – Appendix 1: Investment Options and Analysis.

This appendix has been classified as exempt under Paragraph 3 of Part 1 Schedule 12A of the Local Government Act 1972, namely: “Information relating to the financial or business affairs of and particular person (including the authority holding that information).”

The press and public will be excluded from the remainder of the meeting as the report(s) to be considered contain the following category of exempt information as specified in Paragraph 3, Schedule 12A of the Local Government Act 1972, namely:

“Information relating to the financial or business affairs of any particular person (including the authority holding that information)"

This report provides and update on the Fund’s Private Debt Allocation in the short to medium term.

To update the committee on recent developments regarding Brent Pension Fund investments held within the London CIV (CIV).