The Pension Board of Gloucestershire Council met on Wednesday 29 July 2026 to review updates on the Gloucestershire Pension Fund's governance, operations, funding, and investments. The meeting agenda included discussions on the Fund's financial statements, audit plan, risk register, and progress towards net zero commitments.

Gloucestershire Pension Fund Business Update - Governance & Operations

The Board was scheduled to receive an update on the governance and operational matters of the Gloucestershire Pension Fund. This included noting the Pension Committee minutes from 11 June 2026, an overview of the new regulatory framework impacting the Fund, and details of delegations made to enable the Fund's participation in LGPS Central. Discussions were also planned regarding amendments to the Risk Register, and a review of the 2025/26 budget outturn and the 2026/27 business plan.

Gloucestershire Pension Fund Business Update - Funding & Investments

This agenda item was set to provide the Board with an update on the Fund's funding position as at 31 March 2026. It was also scheduled to cover progress on the Fund's net zero commitments and outline the next steps in this area.

Draft Investment Strategy Statement & Investment Policy Statement

The Board was scheduled to review the draft Investment Strategy Statement (ISS) and Investment Policy. This included noting an updated timetable for their development and approval, with an extension to December 2026. The Board was also asked to provide feedback on the draft documents for the Pension Committee's consideration and to note the summary findings from a Responsible Investment member survey.

GPF Funding & Investment Performance Benchmarking

This item was intended to present the findings of the funding and investment performance benchmarking for the Gloucestershire Pension Fund. The Board was scheduled to be informed of the Fund's position relative to other Local Government Pension Scheme (LGPS) peers and national trends, with a focus on assuring the Board of the Fund's strong funding position and investment performance.

Pension Board Annual Report 2025-26

The Board was scheduled to consider its draft Annual Report for 2025-26. Members were asked to provide feedback on the report before its potential approval. The report was expected to detail the business conducted by the Board and any risks or concerns identified during the year.

Pension Fund Draft Financial Statements & Audit Plan 2025-26

The Board was scheduled to note the draft financial statements for the Gloucestershire Pension Fund for the year ending 31 March 2026. Additionally, the External Audit Plan for the same period, prepared by KPMG, was to be presented for noting. This included details on the audit approach, materiality, and planned audit procedures.