The Pension Board of Greenwich Council was scheduled to consider a range of matters concerning the management and performance of the Royal Borough of Greenwich Pension Fund. Key topics included training on pensions procurement, updates to the Board's terms of reference, and a review of fund manager performance and risk registers. The Board was also scheduled to receive a presentation on Environmental, Social, and Governance (ESG) matters from the London Collective Investment Vehicle (London CIV).

Pensions Procurement Training

The Board was scheduled to receive training from the RBG Procurement Team on the subject of Pensions Procurement. This training was intended to cover aspects of the Procurement Act 2023, focusing on value for money, fair treatment, transparency, and integrity throughout the commercial lifecycle. The training was also scheduled to address the responsibilities of Board and Panel members in procurement processes, including the management of conflicts of interest and the importance of contract management after award. Social Value in procurement, and its specific application to pensions contracts, was also on the agenda for discussion.

Updates to the Terms of Reference

The Board was scheduled to consider and agree amended Terms of Reference for the Local Pension Board. These proposed amendments were intended to ensure the document remained current, reflected legislative requirements and governance arrangements, and supported the effective operation of the Board. The report noted that these proposed amendments had been previously presented to the Pension Board on 8 December 2025, but the meeting was inquorate, preventing formal approval at that time. The revised Terms of Reference aim to clarify governance arrangements and ensure consistency with current Fund practices and regulatory expectations.

Pension Panel Meeting Activity

The Board was scheduled to note the minutes of the Pension Investment and Administration Panel meetings held on Monday 20 July 2026. These minutes covered several items, including the Pension Fund Audit Strategy Memorandum 2025/26, the Pension Fund Business Plan 2026/27, and an update on the Pension Schemes Act 2026. The Panel had also noted reports on early retirements and received updates from London CIV and on fund manager performance.

Pension Fund Risk Register

A section of the Pension Fund risk register, specifically covering Liabilities and Other Risks, was scheduled to be noted by the Board. This report was intended to highlight key areas of risk for the Fund, incorporating assessments of likelihood and impact, control measures, and overall risk scores. The register identifies various risk categories, including demographic and financial liabilities, as well as other risks such as regulatory change, cyber security, and business continuity. The Board was expected to review high-risk items and amended entries within this section.

Fund Manager Performance to 30 June 2026

The Board was scheduled to note a report on the performance of the Royal Borough of Greenwich Pension Fund's investment managers for the period ending 30 June 2026. This report, which included an exempt appendix detailing specific performance figures, was intended to provide an overview of the Fund's assets, strategic asset allocation, and the performance of individual investment managers across various asset classes. The report was also to provide market updates, including commentary on global economic themes, geopolitical developments, and performance across listed equities, private equity, private credit, infrastructure, and other asset classes.

Fund Manager Presentation on ESG - London Collective Investment Vehicle

A presentation from the London CIV was scheduled, focusing on their work in Environmental, Social, and Governance (ESG) matters. The presentation was intended to cover how London CIV assesses climate change risks and opportunities, and how the manager engages with companies in which it invests to drive change. Updates on stewardship activities, including engagement and voting, were also expected.

Declarations of Interest

Members were scheduled to declare any personal and financial interests in items on the agenda. The report pack included information on the Council's Constitution and Code of Conduct regarding declarations of interest. It also listed Councillor Bren Albiston's membership on the London Pensions Collective Investment Vehicle and Councillor John Fahy's membership on the Overview and Scrutiny Joint Health Committee.

Training - Pensions Procurement

The Board was scheduled to receive training from the RBG Procurement Team on Pensions Procurement. This training was intended to cover aspects of the Procurement Act 2023, focusing on value for money, fair treatment, transparency, and integrity throughout the commercial lifecycle. The training was also scheduled to address the responsibilities of Board and Panel members in procurement processes, including the management of conflicts of interest and the importance of contract management after award. Social Value in procurement, and its specific application to pensions contracts, was also on the agenda for discussion.

Pension Panel Meeting Activity

The Board was scheduled to note the minutes of the Pension Investment and Administration Panel meetings held on Monday 20 July 2026. These minutes covered several items, including the Pension Fund Audit Strategy Memorandum 2025/26, the Pension Fund Business Plan 2026/27, and an update on the Pension Schemes Act 2026. The Panel had also noted reports on early retirements and received updates from London CIV and on fund manager performance.

Pension Fund Risk Register

A section of the Pension Fund risk register, specifically covering Liabilities and Other Risks, was scheduled to be noted by the Board. This report was intended to highlight key areas of risk for the Fund, incorporating assessments of likelihood and impact, control measures, and overall risk scores. The register identifies various risk categories, including demographic and financial liabilities, as well as other risks such as regulatory change, cyber security, and business continuity. The Board was expected to review high-risk items and amended entries within this section.

Fund Manager Performance to 30 June 2026

The Board was scheduled to note a report on the performance of the Royal Borough of Greenwich Pension Fund's investment managers for the period ending 30 June 2026. This report, which included an exempt appendix detailing specific performance figures, was intended to provide an overview of the Fund's assets, strategic asset allocation, and the performance of individual investment managers across various asset classes. The report was also to provide market updates, including commentary on global economic themes, geopolitical developments, and performance across listed equities, private equity, private credit, infrastructure, and other asset classes.

Fund Manager Presentation on ESG - London Collective Investment Vehicle

A presentation from the London CIV was scheduled, focusing on their work in Environmental, Social, and Governance (ESG) matters. The presentation was intended to cover how London CIV assesses climate change risks and opportunities, and how the manager engages with companies in which it invests to drive change. Updates on stewardship activities, including engagement and voting, were also expected.