The Pension Board of Greenwich Council is scheduled to convene on Monday, 21 September 2026. The meeting's agenda includes a review of the Pension Fund's performance, updates on the fund's risk register, and training on procurement processes. Additionally, the Board will consider proposed amendments to its Terms of Reference.

Training on Pensions Procurement

A significant portion of the meeting is dedicated to training on pensions procurement, delivered by the RBG Procurement Team. This session, detailed in the Agenda frontsheet 21st-Sep-2026 12.00 Pension Board, aims to equip Board members with knowledge regarding procurement processes within the context of the Pension Fund. The training will cover aspects of the Procurement Act 2023, focusing on key shifts towards clear objectives and greater transparency across the commercial lifecycle. Topics such as value for money, fair treatment of suppliers, transparency, and the importance of considering Small and Medium-sized Enterprises (SMEs) and Voluntary, Community and Social Enterprise (VCSE) organisations are scheduled to be discussed. The training will also address the entire procurement lifecycle, from planning to contract delivery and exit, and highlight potential pitfalls of weak procurement or contract management. Board and Panel member responsibilities, including the prompt declaration of any actual, potential, or perceived conflicts of interest, will also be covered. A paper-based quiz is planned to follow the training session.

Updates to the Terms of Reference

The Board is scheduled to consider proposed amendments to its Terms of Reference. These revisions, which were previously presented to the Board on 8 December 2025, aim to ensure the document remains current, reflects legislative requirements and governance arrangements, and supports the effective operation of the Board. The Local Pension Board was established on 1 April 2015 in accordance with Section 5 of the Public Service Pensions Act 2013 and Regulation 106 of the Local Government Pension Scheme (LGPS) Regulations 2013. Its role is to assist the Royal Borough of Greenwich, as the Administering Authority and Scheme Manager, in securing compliance with LGPS legislation, relevant guidance, and the requirements of The Pensions Regulator. The proposed amendments are intended to update and clarify the governance arrangements of the Board.

Pension Fund Performance and Risk Management

The meeting agenda includes a review of the performance of the Royal Borough of Greenwich Pension Fund's investment managers for the period ending 30 June 2026. A report on this performance is scheduled, with an exempt appendix containing detailed information. The Board will also be asked to note a section of the Pension Fund risk register that covers Liabilities and Other Risks. This register is a key tool for managing risk, incorporating assessments of the likelihood and impact of risk events, as well as existing control measures and overall risk scores. The report highlights the importance of active review of the risk register to ensure risks are minimised and, where possible, negated, aligning with the Board's governance role.

London CIV Presentation on ESG

A presentation from the London Collective Investment Vehicle (London CIV) is scheduled, focusing on Environmental, Social, and Governance (ESG) matters. This presentation will provide updates on the London CIV's stewardship activities, including engagement and voting, and will detail how they assess the risks and opportunities posed by climate change. The presentation will also cover how the manager engages with companies in which it invests to drive change. This follows a previous presentation on Stewardship activities in December 2025.

Pension Panel Meeting Activity

The Board is also scheduled to note the minutes of the Pension Investment and Administration Panel meetings held on Monday, 20 July 2026. These minutes summarise items presented and decisions made by the Panel, including the Pension Fund Audit Strategy Memorandum 2025/26, the Pension Fund Business Plan 2026/27, and implications of the Pension Schemes Act 2026.

The Pension Board members attending are Councillor Bren Albiston, Simon Steptoe, Councillor John Fahy (Chair of Overview and Scrutiny), Edward Robbie, and Matthew Attoh.