The Pension Fund Investment & Administration Panel is scheduled to convene on Monday 21 September 2026 to review a range of important reports concerning the management and oversight of the Royal Borough of Greenwich Pension Fund. Key discussions are expected to cover legislative compliance, financial reporting, investment performance, and policy updates.

Pension Schemes Act 2026: Progress and Compliance Monitoring

A significant portion of the meeting is dedicated to reviewing the progress made in implementing the requirements of the Pension Schemes Act 2026¹ and associated Local Government Pension Scheme (LGPS) regulations. The report pack indicates that officers have been working to ensure the Fund remains compliant with statutory requirements, maintains high standards of governance, and protects the interests of scheme members and participating employers. This includes updates on workstreams related to governance, investment pooling, the Investment Strategy Statement, local investment objectives, administration strategy requirements, oversight of the London Collective Investment Vehicle (LCIV), and preparations for appointing a Senior LGPS Officer and an Independent Person. The report highlights that revised Conflict of Interest Policy and Training Policy and Training Strategy documents are scheduled for presentation for approval.

Draft Pension Fund Annual Report and Statement of Accounts

The Panel is expected to consider the draft Pension Fund Annual Report for 2025/26 and the proposed Pension Fund Budget for 2026/27. Additionally, the draft Statement of Accounts for the year ended 31 March 2026 is scheduled for review. These documents provide a comprehensive overview of the Fund's activities, financial position, and planned expenditure, aiming to ensure transparency and accountability to scheme members, participating employers, and other stakeholders. The report outlines the timetable for the consideration and approval of these accounts, including the external audit process.

Annual Report of the Pension Board

The Panel is scheduled to review the annual report of the Pension Board for 2025/26. The Pension Board, established to assist the administering authority in its role as scheme manager, plays a crucial part in enhancing scrutiny and governance within the Fund. The annual report details the work undertaken by the Board during the year, including reviews of policies, fund performance, and the risk register, demonstrating the Board's commitment to effective and efficient governance.

Knowledge and Skills Policy and Framework

A key item for discussion is the agreement of the Fund's Knowledge and Skills Policy and Framework. This policy outlines how the Royal Borough of Greenwich Pension Fund will ensure that Panel members, Pension Board members, and relevant officers possess the necessary knowledge and skills to effectively discharge their governance, oversight, and decision-making responsibilities. The framework addresses induction, training needs assessments, annual training plans, skills gap analysis, and compliance reporting, aligning with LGPS legislation, guidance, and best practice. Members will be informed of their responsibility to maintain up-to-date training records.

Draft Engagement and Escalation Policy

The Panel is being asked to approve a draft Engagement and Escalation Policy. This policy has been developed in response to member feedback from a Responsible Investment Survey and aims to establish a formal framework for stewardship, engagement, and escalation activities undertaken on behalf of the Fund. It outlines objectives for engagement with the London CIV and its investment managers, focusing on environmental, social, and governance (ESG) factors. The policy introduces a structured engagement cycle and an outcomes-based approach, with clear steps for escalation if engagement does not yield satisfactory progress.

Conflict of Interest Policy

The meeting agenda includes the approval of the Pension Fund Investment and Administration Panel's Conflicts-of-Interest Policy. This policy is a requirement under the Pension Schemes Act 2026 and associated LGPS governance regulations. It provides a framework for identifying, monitoring, and managing actual, potential, and perceived conflicts of interest to ensure that decisions are made transparently, accountably, and in the best interests of scheme members and participating employers.

Responsible Investment Matrix - London Collective Investment Vehicle

A presentation from the London CIV is scheduled to provide background on the Fund's Responsible Investment Matrix. The presentation will explain how the LCIV integrates this matrix into its investment process, offering choices on exclusions and restrictions while maintaining the benefits of pooling. This discussion is particularly relevant given the Fund's commitment to responsible investment and stewardship.

Fund Manager Performance

The Panel will receive 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 includes an exempt appendix, will detail the performance of various asset classes and individual managers against their respective benchmarks, allowing the Panel to monitor investment outcomes and challenge managers as necessary.

Training - Procuring Pensions

Finally, the Panel is scheduled to receive training from the RBG Procurement team on the topic of Procuring pensions. This session will include a paper-based quiz to assess understanding of the material presented.