Here is a summary of the scheduled discussions for the Pensions Committee meeting.

The Pensions Committee of Lincolnshire Council was scheduled to discuss a range of topics, including updates from the Lincolnshire Local Pension Board, the Lincolnshire Pension Fund, and West Yorkshire Pension Fund, as well as the government's response to the Fit for the Future consultation. Members were also expected to consider the Annual Report and Accounts, the annual training plan, and compliance with the Pensions Regulator's General Code.

Here are the key topics that were listed on the agenda:

• TPR General Code

  The committee was scheduled to receive an annual update on the Lincolnshire Pension Fund's compliance with the General Code from the Pensions Regulator¹. A report included in the meeting papers noted that a compliance checker model from AON was used to assess the fund's compliance against the code's five key areas. The report also identified areas where additional actions were needed to achieve full compliance, including finalising a scheme of delegation and creating a cyber security policy.

  Following the issuance of TPR's new General Code, the Fund has reviewed its compliance against essential areas and best practice, and the output from this is attached at appendix A. - TPR General Code Report

• LGPS Fit for the Future Consultation Response

  The committee was expected to discuss the government's response to the Fit for the Future consultation, which addresses the future of the Local Government Pension Scheme (LGPS). The consultation's key points included setting local investment targets, shareholder governance, and triennial good governance reviews. The report also covered Border to Coast's pooling strategy response to government feedback.

  The purpose of this report is to make members aware of the Government's response to the Fit for the Future consultation published on 29th May 2025 and Border to Coast's pooling strategy response to the feedback from Government on their pooling submission response. - LGPS Fit for the Future Consultation Response

• Annual Report and Accounts 2024/25

  The committee was scheduled to review the draft accounts for the Pension Fund for the financial year 2024/25, and receive an update on the audit plan from KPMG, the external auditor. The report pack included the draft accounts and the KPMG audit plan for the year.

  The report brings to the Committee the draft Accounts for the Pension Fund and provides an update on the audit for the financial year 2024/25. - Annual Report and Accounts 2024/25

• Annual Training Policy and Plan

  The committee was expected to discuss and approve the annual training plan and policy for the Pensions Committee members for the year to June 2026. The report set out the training and development requirements for committee members and relevant Lincolnshire County Council officers.

  This report sets out the training policy and the annual training plan for the Pensions Committee members for the year to June 2026. - Annual Training Policy and Plan

• Pension Fund Update Report

  The committee was scheduled to receive an update on various fund matters for the quarter ending 31 March 2025. This included funding and performance, breaches register, risk register, asset pooling, budget outturn, annual benefit statements, investment and stewardship reports, and conference and training attendance.

  This report updates the Committee on Fund matters for the quarter ending 31 March 2025 and any other current issues. - Pension Fund Update Report

• Pensions Administration Report

  The committee was set to receive a quarterly report from West Yorkshire Pension Fund (WYPF), the fund's pension administrator. Matt Mott, Head of Governance and Business Development at WYPF, was scheduled to provide an update on current administration issues.

  This is the quarterly report by the Fund's pension administrator, West Yorkshire Pension Fund (WYPF). - Pensions Administration Report

• Report by the Independent Chair of the Lincolnshire Local Pension Board

  The committee was scheduled to receive a report from George Graham, the Independent Chair of the Lincolnshire Local Pension Board, updating them on the board's work over the past few months. The report covered the performance of the administration service, temporary bank accounts, annual review of fund policies, the fund's business plan, arrangements for the Annual Report and Accounts, and board membership and terms of reference.

  The purpose of this report is: a) To update the Pensions Committee on the work of the Pension Board (PB) during the last few months; b) For the Pensions Committee to receive assurances gained from the PB's work; and c) For the Pensions Committee to consider recommendations from the PB. - Report by the Independent Chair of the Lincolnshire Local Pension Board

• 2026 Triennial Valuation Assumptions

  The committee was scheduled to discuss the approach to assumption setting for the 2026 triennial valuation, but this discussion was marked as exempt information and not available to the public.