The Local Pension Board of Wiltshire Council met on Thursday 4 June 2026 to discuss a range of financial and governance matters concerning the Wiltshire Pension Fund. Key topics included an update on the fund's financial health, regulatory changes, and the review of various policies and reports.

Headlines and Monitoring (HAM) Report

The Board was scheduled to consider the Headlines and Monitoring (HAM) report, which provides an overview of key issues and developments within the Wiltshire Pension Fund. This report was intended to cover several areas, including:

• Scheme, Regulatory, Legal and Fund Update: This section was expected to detail any significant changes in legislation, regulations, or legal matters affecting the pension fund.
• Governance Updates: The report was to include updates on governance matters, specifically mentioning the General Code of Practice (GCOP) and its implications.
• Health Check Dashboard: A dashboard providing a snapshot of the fund's performance against its business plan objectives was to be presented, covering key measures such as service delivery, investment performance, funding level, customer service, internal audit ratings, cost per member, and staff engagement.
• Risk Register: The Board was to review the fund's risk register, which outlines identified risks and their current status.
• Administration KPIs: Performance indicators for the administration of the pension fund were to be presented, along with an update on progress against the milestones in the KPI Improvement Plan.
• Audit Update: Progress on the Key Financial Controls audit for 2026/27 was to be reported.

Review of Triennial Valuation Process and Results

A significant item on the agenda was an update on the outcome of the 2025 Triennial Valuation of the Wiltshire Pension Fund. This valuation, conducted every three years, assesses the financial position of the fund and its employers. The report was expected to detail the key provisional results of this valuation, including the fund's overall funding level and any implications for employer contribution rates. The report also indicated that the fund was required to produce a Funding Strategy Statement, which would be considered for approval by the Wiltshire Pension Fund Committee.

Local Pension Board Annual Report

The Head of the Wiltshire Pension Fund was scheduled to present a draft of the Local Pension Board's annual report for 2025/26 for approval. This report would summarise the Board's activities, achievements, and contributions to the governance and oversight of the Wiltshire Pension Fund during the past financial year.

Fit for the Future

A verbal update was anticipated from the Head of the Wiltshire Pension Fund regarding regulatory changes stemming from the Ministry of Housing, Communities and Local Government's (MHCLG) 'Fit for the Future – technical consultation'. This consultation aimed to modernise and improve the Local Government Pension Scheme (LGPS) in England and Wales, and the update was expected to cover the anticipated implementation of these changes.

Administering Authority Discretion Policy

The Board was to review the Fund's new Administering Authority Discretions Policy. This policy outlines the fund's approach to exercising discretions afforded to it within the LGPS Regulations, detailing how decisions are made in areas such as admission agreements, contribution payments, and benefit calculations. The policy had been reviewed and updated to reflect the current structure of the fund and relevant regulations, with proposed changes to reflect the future appointment of a Senior LGPS Officer.

Key Financial Controls

An update was scheduled from the Investment and Accounting Team Lead concerning the operational accounting arrangements for the Wiltshire Pension Fund. This included the monitoring of the quarterly budget and an overview of the fund's key financial controls. The report was expected to detail performance against various control areas, including employer contributions, pension payments, treasury management, data integrity, budget reporting, and financial returns.

Terms of Reference for the Local Pension Board

The Governance Support Lead was due to present the updated draft Terms of Reference for the Local Pension Board. These terms define the Board's role, responsibilities, and governance arrangements, ensuring they align with regulatory requirements and best practice for effective operation. The revised document was intended to reflect current governance practices, regulatory developments, and to clarify the Board's roles and responsibilities.

Low Volume Performance Report

Officers were scheduled to present the annual low volume performance report. This report covers performance information on various metrics, including breaches of data protection regulations, complaints, Freedom of Information requests, Subject Access Requests, and Internal Dispute Resolution Procedures (IDRPs). The report was expected to highlight trends and any areas requiring attention.

Minutes and Key Decisions of the Wiltshire Pension Fund Committee

The Board was to consider the Part 1 (public) minutes of the Wiltshire Pension Fund Committee meetings held on 26 February 2026 and 26 March 2026. This would allow the Local Pension Board to note the decisions and discussions of the main Pension Fund Committee.

Date of Next Meeting and Forward Work Plan

The Board was to review its Scheme Year Forward Work Plan, which outlines the topics scheduled for discussion at future meetings. The date of the next Board meeting was also to be confirmed.