The Pension Fund Committee of Swansea Council is scheduled to convene on Wednesday, 16 September 2026. The meeting's agenda includes a review of the draft annual report and statement of accounts for the Swansea Pension Fund for the 2025-26 financial year, alongside an update on the Wales Pension Partnership.

Draft City and County of Swansea Pension Fund Annual Report and Statement of Accounts 2025-26

The committee is set to consider the draft City and County of Swansea Pension Fund Annual Report and Statement of Accounts for the 2025-26 financial year. This document, which is subject to audit, will be presented for approval. The report is a statutory requirement under Regulation 57 of the Local Government Pension Scheme Regulations 2013 and outlines the fund's financial performance, administration, and investment activities. The draft accounts and annual report were submitted to Audit Wales for external audit on 23 July 2026, with the final report and Audit Wales' findings anticipated for the November meeting. The inspection period for the Pension Fund accounts is expected to take place in early October 2026.

Wales Pension Partnership (WPP) Update

An update on the Wales Pension Partnership (WPP) is scheduled for discussion. The WPP was established in 2017 with the aim of achieving economies of scale, strong governance, reduced costs, and enhanced investment capacity, particularly in infrastructure. The partnership involves eight constituent authorities, including Swansea Council. The report will likely cover the WPP's governance structure, risk management strategies, training initiatives, and progress on asset pooling. As of 31 March 2026, the WPP had 82% of assets under pool management, with total assets across the eight pension funds amounting to £28.7 billion. The update is expected to detail the investment mandates managed by the WPP, including various equity, fixed income, infrastructure, private markets, and real estate funds, as well as passive investments. The report will also address pooling costs and ongoing investment management expenses.

Investment Monitoring Report - Quarter 2 2026/27

The committee will receive an Investment Monitoring Report for the second quarter of the 2026/27 financial year. This report, provided by independent consultants, is for information purposes and will likely detail the performance of the fund's investments during this period.

Breaches Report

A Breaches Report is also on the agenda for information. This report is required under Section 70 of the Pensions Act 2004 and details any operational breaches that have occurred during the reporting period. Materially significant breaches must be reported to the Pensions Regulator. The report will outline any new breaches, the actions taken, and future preventative measures. It will also include any GDPR breaches, as per good practice and transparency.

Appointment of the Independent Person

The committee is scheduled to discuss the appointment of an Independent Person. This item is expected to cover the role and responsibilities of this position within the council's governance framework.

The meeting will also address the minutes of previous meetings and consider the exclusion of the public for certain agenda items, as detailed in the exclusion of the public report.