Agenda

Members are invited to declare at this stage of the meeting, any relevant personal and prejudicial interests and discloseable pecuniary interests in any matter to be considered at this meeting.

To approve the minutes of the previous meeting, held on 2 November 2021, as a correct record.

To update the Pension Board on various pensions administration matters as part of its remit to oversee the administration of the Brent Pension Fund.

To present the updated Risk Register for the Brent Pension Fund Pensions Administration Service.

To receive the Brent Pension Fund Q3 2021 Investment Monitoring Report.

This report presents an update on progress against the Fund’s net zero transition roadmap.

This report provides an update on the 2022 valuation process, in particular on the key financial and demographic assumptions that drive the overall funding level and employer contribution rates.

Members are asked to note that as the full report contains exempt information it has been included for consideration in the closed session of the meeting (Agenda Item 15 refers).

This report presents the final version of the Pension Fund Annual Report for the year ended 31 March 2021, following the conclusion of the external audit.

The purpose of this report is to summarise the outcome of the Actuarial Services tender and seek authority to procure a contract for Custodian Services and Investment Management Services.

This report is for noting and presents members with an update on engagement activity undertaken by LAPFF (the Local Authority Pension Fund Forum) on behalf of the Fund. The Fund’s commitment with LAPFF and its work demonstrates its commitment to Responsible Investment and engagement as a way to achieve its objectives.

Notice of items to be raised under this heading must be given in writing to the Head of Executive and Member Services or her representative before the meeting in accordance with Standing Order 60.

The dates for the programme of meetings in the 2022/23 Municipal Year will be confirmed as part of the Council’s Calendar of Meetings.

The press and public will be excluded from the remainder of the meeting as the reports to be considered contain the following category of exempt information as specified in Paragraph 3, Schedule 12 A 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)”

To receive a report from the Director of Finance providing an update on recent developments regarding the Brent Pension Fund Investments held within the London CIV (LCIV).

This report provides the full update on the 2022 valuation process, in particular on the key financial and demographic assumptions that drive the overall funding level and employer contribution rates.