The Surrey Pension Fund Committee is scheduled to meet on Monday 14 September 2026 to review the performance and financial standing of the pension fund. Key discussions are expected to cover the fund's operational overview, investment performance, responsible investment strategies, and budget monitoring. The committee will also consider updates on risk management, local pension board activities, and recent developments within the Local Government Pension Scheme (LGPS).

Surrey Pension Team Overview - Quarter 1

The committee will receive an overview of the Surrey Pension Team's activities for the first quarter of the financial year, covering April to June 2026. This report will provide a high-level summary of the service's performance, including updates on customer operations, fund performance, staffing, and financial expenditure. The Surrey Pension Team Dashboard will be the primary vehicle for this overview.

Investment and Funding Level Update

A report summarising the fund's investment positioning, activity, and performance is scheduled for review. This will include an assessment of the current funding ratio, which compares the value of the fund's assets to its liabilities. The report will detail the fund's performance over the quarter and provide an analysis of market conditions. A Part 2 annex containing further details is also available.

Responsible Investment Update

The committee is committed to the responsible stewardship of the fund's assets. This agenda item will focus on reviewing the votes cast directly by the fund at company meetings and considering the voting and engagement activities of the fund's partners, such as investment managers and the Local Authority Pension Fund Forum (LAPFF). The report will cover engagement activities and outcomes for the quarter ending 30 June 2026, the fund's direct voting record, and the renewal application for the UK Stewardship Code. The committee will also be asked to agree the draft Climate-related Financial Disclosures Report for 2025/26.

Review of the Risk Methodology

This report will present the outcome of a review of the fund's risk methodology. It includes a revised approach to likelihood scoring and an expanded impact framework, which has already been considered and endorsed by the Local Pension Board. The committee's approval is sought to implement the revised methodology as part of the fund's risk management framework.

Q1 Budget Monitoring Report 2026/27

Details of the Pension Fund's financial position for the first quarter of the 2026/27 financial year will be presented. This report will cover the revenue and expenditure budget position as at 30 June 2026.

Summary of the Surrey Local Pension Board

A summary of the administration and governance issues reviewed by the Local Pension Board at its last meeting on 21 July 2026 will be provided. This will offer insight into the board's activities and any recommendations made.

Recent Developments in LGPS (Background Paper)

This report will consider recent developments within the Local Government Pension Scheme (LGPS). It serves as a background paper for the committee, providing information on relevant changes and updates within the scheme.

Draft Annual Report 2025/26

An update on the production of the 2025/26 Pension Fund Annual Report will be presented. This report will outline the progress made in compiling the annual report, which is a statutory requirement.

The committee will also consider items in Part 2 of the agenda, which are held in private due to the likely disclosure of exempt information. These include updates on the implementation of a single-purpose pension authority, business impact analysis and continuity plans, investment and funding levels, asset class focus on private markets, and updates from the Border to Coast Pensions Partnership and BCPP Multi-Asset Credit.

The full public reports pack for this meeting can be accessed here: Public reports pack Monday 14-Sep-2026 10.00 Surrey Pension Fund Committee. The agenda frontsheet is available here: Agenda frontsheet Monday 14-Sep-2026 10.00 Surrey Pension Fund Committee.