The Full Council decided to note the report of the Pension Fund Committee from 18 September 2020 on 15/10/2020. The Pension Fund Committee approved the draft 2019/20 Annual Governance Statement and approved the accounts and the 2019/20 Annual Report of the Lancashire Local Pension Board. The Committee also approved changes to the Admission and Termination Policy and revised Terms of Reference for the Lancashire Local Pension Board. The Committee approved recommended changes to the Pension Fund Strategic Asset Allocations and tolerance ranges, and replaced the current allocation to the Lancashire Local Property Portfolio with a fixed allocation.