The Pensions Board of Lambeth Council was scheduled to consider a range of financial and administrative updates concerning the Lambeth Pension Fund. Key discussions were scheduled to include the Fund's business plan, quarterly performance, risk register, investment performance, and draft training strategies and annual reports.

Business Plan Tracker

The Board was scheduled to review the Business Plan Tracker, which monitors progress against the Fund's key priorities and objectives for the year. This would have provided an overview of actions related to administration, governance, communication, actuarial matters, financial and risk management, and investment strategy.

Lambeth Pension Administration - Quarterly Performance Update

A quarterly performance update for the Lambeth Pension Administration Service was scheduled to be presented. This report was expected to cover the period from April to June 2026, detailing performance against agreed indicators, administrative updates, and progress on ongoing projects. It was also scheduled to include information on member engagement, employer engagement, the 'Engage' member self-service platform, and the Lambeth Pension Fund website. The report was also scheduled to detail any breaches of the law, complaints, compliments, and internal dispute resolution procedures. Significant attention was scheduled to be given to the progress of the McCloud Remedy implementation and the Pensions Dashboard update.

Lambeth Pension Fund Risk Register

The Board was scheduled to review the Lambeth Pension Fund Risk Register. This report was intended to provide an update on the arrangements in place to manage risks within the Fund, covering areas such as administration, governance, communication, actuarial/funding, committee and board operations, financial and risk management, and investment and strategy. The report was expected to highlight any new risks, red-rated risks, and amber-rated risks, along with proposed actions to mitigate them.

Lambeth Pension Fund - Investment Performance Review

An investment performance review for the Lambeth Pension Fund, covering the quarter ending 30 June 2026, was scheduled for discussion. This report, prepared by Mercer, the Fund's investment adviser, was expected to detail the Fund managers' performance against benchmarks, provide updates on the implementation of the agreed investment strategy, and outline any rebalancing required to maintain the strategic asset allocation. The report was also scheduled to include details on fund investment activity, UK exposure within existing mandates, and fund management fees.

Draft Training Strategy and Plan

The Board was scheduled to consider the draft Training Strategy, Training Policy, and Training Plan for 2026/27. These documents were intended to outline the Fund's framework for meeting the strengthened requirements for knowledge and skills development for Pension Committee members, Local Pension Board members, and relevant officers, as introduced by the Local Government Pension Scheme (LGPS) Amendment Regulations 2026. The strategy was expected to detail objectives, knowledge and skills requirements, training needs assessment, induction arrangements, and reporting requirements.

Draft Annual Report 2025-26

A draft of the Lambeth Pension Fund's Annual Report for 2025-26, incorporating the draft statement of accounts, was scheduled for review. This report was expected to summarise the Fund's performance for the financial year ended 31 March 2026. The report was to note that the external auditors, Mazars, had not yet formally begun their audit of the accounts, and that a disclaimer of opinion was likely due to ongoing work on historic balances. The report was scheduled to detail the Fund's membership, financial performance, cash flows, triennial valuation results, and investment strategy.

Matters Arising and Work Plan

The Board was scheduled to discuss matters arising from the previous meeting and review its work plan for the upcoming period. This would have provided an opportunity to address any outstanding issues and consider future agenda items.

Business Plan Tracker

The Board was scheduled to review the Business Plan Tracker, which monitors progress against the Fund's key priorities and objectives for the year. This would have provided an overview of actions related to administration, governance, communication, actuarial matters, financial and risk management, and investment strategy.