The Pension Fund Committee meeting scheduled for 5 December 2025 was set to cover a range of financial and regulatory matters concerning the Durham County Council Pension Fund. Key discussions were expected to include the overall value and performance of the fund's investments, the annual report and accounts, and updates on regulatory changes affecting the Local Government Pension Scheme (LGPS).

Overall Value and Performance of Pension Fund Investments

The committee was scheduled to receive an update on the overall value of the Pension Fund's investments as of 30 September 2025, as detailed in the report Overall Value of Pension Fund Investments to 30 September 2025 Item 5 - PFC - Overall Value of the Fund. This would be followed by a review of the performance measurement of these investments up to the same date, as outlined in the Performance Measurement of Pension Fund Investments to 30 September 2025 report Item 6 - PFC - Performance Management Report.

Pensions Fund Annual Report and Accounts and Audit Completion Plan

A significant portion of the meeting was dedicated to the Pensions Fund Annual Report and Accounts and Audit Completion Plan Item 7 - DCC Pension Fund Annual Report and Accounts 24-25. This comprehensive report would cover the financial performance and governance of the fund for the year ended 31 March 2025. Accompanying this would be the Audit Completion Report for Durham County Council Pension Fund for the year ended 31 March 2025 Item 7 - DCCPF 24-25 Audit Completion Report ACR - signed, detailing the findings of the external audit.

Regulatory Update and Scheme Improvements

The committee was scheduled to receive a Regulatory Update Item 8 - Regulatory Update Pension Fund Committee - Dec 2025, which would likely cover recent developments impacting the LGPS. This would be followed by a discussion on LGPS Consultation: Scheme Improvements (Access and Protections) Item 9 - Consultation - Access Protections Committee Report, detailing proposed changes to the scheme's access and protections.

Policy Reviews and Risk Management

The meeting agenda also included a Review of Pension Fund Policy Statements - Funding Strategy Statement Item 10 - Review of Pension Fund Policy Documents - Funding Strategy Statement, with the full statement attached as an appendix Item 10 - Appendix 1 - Funding Strategy Statement - FSS. Additionally, a Review of Pension Fund Risks Item 11 - Review of Pension Fund Risks updated, including the updated risk register Item 11 - Risk Register - Appendix 3, was scheduled for discussion.

The meeting also included standard procedural items such as apologies for absence, substitute members, and declarations of interest, as well as the approval of minutes from the previous meeting held on 4 September 2025 Minutes 04092025 Pension Fund Committee. Part B of the agenda included items considered to involve exempt or confidential information, such as reports from independent and pension fund advisers, and quarterly performance reports from various investment managers.

The meeting was scheduled to be held in Committee Room 2 at County Hall, Durham, commencing at 10:00 am. The attendees list included County Council members, Darlington Borough Council members, scheme member representatives, and various advisers and investment managers.