Pensions Committee

Recent meetings

44 meetings · Page 1 of 5

22 Apr 2026

6:30 pm

Pensions Committee - Wednesday 22 April 2026 6.30 pm

The Pensions Committee of Lambeth Council met on Wednesday 22 April 2026 to discuss the actuarial valuation results and funding strategy statement for the Lambeth Pension Fund. The committee also reviewed the fund's risk register and received an update on t...

25 Mar 2026

6:30 pm

Pensions Committee - Wednesday, 25 March 2026 - 6.30 pm

The Pensions Committee of Lambeth Council met on Wednesday 25 March 2026 to review the performance of the Lambeth Pension Fund, discuss policy updates, and consider the fund's financial strategy. Key decisions included the approval of an updated Funding Str...

11 Feb 2026

6:30 pm

Pensions Committee - Wednesday, 11 February 2026 - 6.30 pm

The Pensions Committee of Lambeth Council met on Wednesday 11 February 2026, where they discussed the actuarial valuation update for the pension fund, the council's contribution rates, and the upcoming financial year's accounts. A decision was made to appro...

07 Jan 2026

Extraordinary, Pensions Committee - Wednesday 7 January 2026 6.30 pm

Here is a summary of the Pensions Committee meeting held on 7 January 2026. The committee noted the updated Funding Strategy Statement, and also noted the draft Annual Report, delegating approval of the final audited report and financial statements to the C...

05 Nov 2025

Pensions Committee - Wednesday 5 November 2025 6.30 pm

The Lambeth Council Pensions Committee is scheduled to meet on 5 November 2025 to discuss the fund's performance, risk management, and strategic planning. The committee will review the investment performance, consider an update to the funding strategy, and ...

30 Jul 2025

Pensions Committee - Wednesday 30 July 2025 6.30 pm

The Lambeth Council Pensions Committee met to discuss the fund's performance, risk management, and future strategy, including noting the actuarial assumptions for the 2025 valuation, which will influence employer contribution rates. The committee also revie...

14 May 2025

Pensions Committee - Wednesday 14 May 2025 6.30 pm

The Lambeth Council Pensions Committee convened to discuss key performance indicators, risk management, training, and investment strategies for the Lambeth Pension Fund. The committee reviewed the [Pension Administration Performance report](https://moderngo...

29 Jan 2025

Pensions Committee - Wednesday 29 January 2025 6.30 pm

The committee noted the Pension Fund's accounts for the last quarter and agreed to the publication of the draft annual report for 2023/24. The committee also discussed their training needs and how best to structure training in the future, ahead of the upcom...

09 Oct 2024

Pensions Committee - Wednesday 9 October 2024 6.30 pm

The committee noted the contents of all of the reports. They also noted a deputation from Lambeth Unison, a retired pensioner, and Glyn Secker, and asked officers to further engage with the fund managers about the Fund's investments in companies identified ...

10 Jul 2024

, Pensions Committee - Wednesday 10 July 2024 6.30 pm

POSTPONED

This meeting has been postponed.

About

Terms of Reference 2.1 The Committee is responsible for ensuring that the Fund is properly operated in accordance with all relevant regulations and best practice as advised by the Pensions Regulator, the LGPS, SAB, Constitution of the London Borough of Lambeth 135 MHCLG and CiPFA, including both financial and administration matters. This will include, but is not limited to: a. benefits administration; b. managing the Discretions policies; c. resolving Internal Disputes; d. communications with members; e. communication and engagement with employers; f. monitoring Risks; g. record keeping; h. publishing of Scheme information as required; i. review the draft annual statement of accounts for the Pensions Fund. Specifically, to consider whether appropriate accounting policies have been followed and whether there are concerns arising from the financial statements or from the audit that need to be brought to the attention of the Committee. To consider the external auditor’s report to those charged with governance on issues arising from the audit of the accounts, and then to formally approve the audited Pension Fund Annual Report; j. approving the Council's Pension Fund Annual Report and Financial Statements and to consider any reports produced by the Chief Finance Officer in accordance with the duty to make arrangements for the proper administration of the financial affairs of the Council's Pension Fund (“the Fund”), but not in respect of the formulation of a plan or strategy which is a function of the Cabinet (and subject to final approval by the Council) or detailed operational matters which are within the purview of the Cabinet and for taking whatever action is necessary to ensure compliance with both the Local Government Pension Scheme Regulations (“the Regulations”) (as amended from time to time) and best practice; k. participating in the London Collective Investment vehicles in accordance with the requirements placed on administering authorities in relation to the pooling of LGPS assets made under the powers conferred on the Secretary of State by the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016, Regulation 7(1); l. carrying out the duties set out in the Regulations, in relation to the actuarial valuations of the Fund and in relation to any other decisions about the amount the employers need to pay; and, m. assessing the covenant of Scheme employers, ensure that employer contributions are set accordingly and other relevant regulations are adhered to. 2.2 To assist the Administering Authority in securing compliance with the Regulations, any other legislation relating to the governance and administration of the Scheme, and requirements imposed by the Pensions Regulator in relation to the Scheme. To assist the Committee in performing this function it will conduct a wide range of tasks including, but not restricted to: a. produce regular compliance monitoring reports; b. review management, administrative and governance processes and procedures in order to ensure they remain compliant with the Regulations, relevant legislation and in particular the Code; c. develop and continually review Scheme member and employer communications as required by the Regulations and relevant legislation; d. monitor complaints and performance on the administration and governance of the Scheme; e. review the application of the Internal Dispute Resolution Procedure; f. review the complete and proper exercise of Pensions Ombudsman cases; g. review the implementation of revised policies and procedures following changes to the Scheme; Constitution of the London Borough of Lambeth 136 h. review the arrangements for the training of Committee members and those elected members and officers with delegated responsibilities for the management and administration of the Scheme; i. review the outcome of audit reports; j. review the compliance of particular cases, projects or process on request of the Committee; k. effective scrutiny of the Fund’s investments; and, l. any other area within the statement of purpose (i.e. assisting the Administering Authority) the Committee deems appropriate. 2.3 To ensure the effective and efficient governance and administration of the Scheme, by so doing the Committee will assist the Board in meeting its responsibilities. Within the extent of this core function the Committee shall be instructed by the Board in determine the areas to be considered including but not restricted to: a. review the development of improved customer services; b. monitor performance of administration, governance and investments against key performance targets and indicators; c. monitor audit reports; d. review the risk register as it relates to the Scheme Manager function of the authority; e. checking Fund governance; f. reviewing Fund risks and internal systems and control; g. checking Fund external advisors/service providers and their internal controls; h. reviewing Fund member record keeping processes for quality, accuracy and content; i. checking Fund contributions; j. review the development of improved management, administration and governance structures and policies; k. review the outcome of actuarial reporting and valuations; l. review the development and monitoring of process improvements on request of the Board; and, m. any other area within the statement of purpose (i.e. ensuring effective and efficient governance of the Scheme) the Committee deems appropriate. 2.4 In support of its core functions the Committee may make: a. a request for information to the Board or Administering Authority with regard to any aspect of the Administering Authority’s function. Any such request should be reasonably complied with in both scope and timing; and, b. recommendations to the Board which should be considered and a response made to the Committee on the outcome within a reasonable period of time. 2.5 The Committee can delegate its day to day operational functions to officers between Committee meetings with clearance from the Chair.

Members

Martin Bailey · Chair

Judith Cavanagh · Member

Martin Tiedemann · Member

Peter Woodward · Member

Sarah Cole · Member

Scott Ainslie · Member

Diogo Costa · Substitute

Joe Dharampal-Hornby · Substitute

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