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Future Pension Board Agenda |
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Item |
Description |
Author/Owner |
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Standing items (items that appear on each agenda) |
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Pension Committee Update |
A consideration of the draft agenda of the Pension Committee and summary minutes of the last Pension Committee meeting decisions. |
Head of Pension Fund |
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Pension Reform Agenda |
A report on progress of the Fund with regard to the reforms set out in the governments’ “Fit for the Future” consultation with regard to asset pooling and consideration of the potential future impact of local democratic reforms on the Fund. |
Head of Pension Fund |
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Governance Report |
A report on governance issues affecting the fund, developments in the LGPS and regulatory environment, policy amendments and ACCESS pool updates |
Head of Governance |
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Employer Engagement and Communications Report |
A report on Employer Engagement matters to note, Employer Contributions update and Communications from the Fund |
Communications Manager |
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Pensions Administration report |
An update on the performance of the Pensions Administration Team covering KPI’s and projects. |
Head of Pensions Administration |
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Internal Audit reports |
All internal audit reports on the Fund are reported to the Board |
Head of Internal Audit |
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East Sussex Pension Fund (ESPF) Quarterly budget report |
An update on the Funds budget. This is reported in Q2-4 only. |
Head of Investment and Accounting |
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East Sussex Pension Fund (ESPF) Risk Register |
A report on the Funds Risk Register |
Head of Pension Fund |
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Work programme |
A report on the Board and Committee’s work programme |
Head of Pension Fund |
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East Sussex Pension Fund (ESPF) Breaches Log |
A report on the Funds breaches log |
Head of Governance |
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Employer Admissions and Cessations |
A report on the admission and cessation of employers to the Fund |
Head of Governance |
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4 November 2025 |
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Independent Auditors Report on the Pension Fund Accounts 2024/25 |
As part of the Report on the Pension Fund Annual Report and Accounts, a report on the External Audit findings of the Pension Fund financial Statements for 2024/25 |
Head of Investment and Accounting |
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Pension Fund Annual Report and Accounts 2024/25 |
2024/25 Annual Report and Accounts for approval |
Head of Investment and Accounting |
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Employer Forum Agenda |
Discussion on Pension Fund Employer Forum Agenda topics |
Head of Pension Fund |
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2025 Actuarial Valuation and Funding Strategy Statement |
Report from the Fund Actuary on the March 2022 triennial valuation process, methodology and assumptions with a draft Funding Strategy Statement for review prior to consultation |
Head of Pension Fund |
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Annual Training Plan |
Section within the Governance Report on Training completed in the year and training recommendations for the up-coming year |
Head of Governance |
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12 February 2026 |
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Business Plan and Budget 2026/27 |
Report to set the Budget for the Pension Fund for the Financial Year 2026/27 including the Business Plan with key deliverables for the year. |
Head of Pension Fund |
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External Audit Plan for the East Sussex Pension Fund 2025/26 |
Draft External Audit Plan for 2025/26 Pension Fund Financial Statements |
Head of Investment and Accounting |
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2025 Valuation report and results and Final Funding Strategy Statement (FSS) |
Final report and results from the Fund Actuary of the 31 March 2025 triennial valuation with the final FSS for approval post consultation. |
Head of Pension Fund |
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Additional Funding Strategies |
Triennial review of policies that support the FSS and funding position. This includes the Exit Credit Policy, Contribution Rate review Policy and Deferred Debt and Debt Spreading agreement policies. |
Head of Pension Fund |
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4 June 2026 |
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Governance and Compliance Review |
Governance Review to ensure compliance with Fit for the Future requirements |
Head of Governance |
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10 September 2026 |
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Supplier Update |
Update on supplier contracts and procurements |
Head of Governance |
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6 November 2026 |
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Independent Auditors Report on the Pension Fund Accounts 2025/26 |
A report on the External Audit findings of the Pension Fund financial Statements for 2025/26 |
Head of Investment and Accounting |
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Pension Fund Annual Report and Accounts 2025/26 |
2026/27 Annual Report and Accounts for approval |
Head of Investment and Accounting |
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Employer Forum Agenda |
Discussion on Pension Fund Employer Forum Agenda topics |
Head of Pension Fund |
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Annual Training Plan |
The Governance Report will include details of the training completed in the year and training recommendations for the up-coming year |
Head of Pension Fund |
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Actions requested by the Pensions Board |
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Subject Area |
Detail |
Status |
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The Board requested a review to be carried out on the Ill Health Insurance provision in place in terms of commercial arrangements. |
Ongoing 2025 |
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Risk Register Full review |
The Board have requested for a meeting to walk through all risks on the risk register as detail is usually only discussed on changes to the register. The summary risk register is presented to each Board and Committee, with the full risk register available on request. |
Completed in March 2025 |
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AVC – Default fund/ review of option |
Further investigation into the best default option for AVC investors through the Prudential. |
Report completed and presented in February 2025. Work to implement recommend changes ongoing. |
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Future Pension Committee Agenda |
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Item |
Description |
Author |
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Standing items (items that appear on each agenda) |
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Governance Report |
A report on governance issues effecting the fund, developments in the LGPS and regulatory environment, policy amendments and requirement to ensure compliance with the governance changes proposed in the ‘Fit for the Future’ consultation. |
Head of Governance |
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Pension Reform Agenda |
A report on progress of the Fund with regard to the reforms set out in the governments’ “Fit for the Future” consultation with regard to asset pooling and consideration of the potential future impact of local democratic reforms on the Fund. |
Head of Pension Fund |
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Pensions Administration report |
An update on the performance of the Pensions Administration Team covering KPI’s and projects. |
Head of Pensions Administration |
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Internal Audit reports |
Internal audit reports on the Fund and annual audit plan. |
Head of Internal Audit |
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East Sussex Pension Fund (ESPF) Quarterly budget report |
An update on the Funds budget - reported Q2-4 only |
Head of Investment and Accounting |
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East Sussex Pension Fund (ESPF) Risk Register |
A report on the Funds Risk Register |
Head of Pension Fund |
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Work programme |
A report on the Board and Committee’s work programme |
Head of Pension Fund |
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Investment Report |
A Quarterly performance report of the investment managers |
Head of Investment and Accounting |
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East Sussex Pension Fund (ESPF) Breaches Log |
A report on the Funds breaches log – reported only when a new breach is recognised, or status changed. Report goes quarterly to Board. |
Head of Governance |
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Employer Admissions and Cessations |
A report on the admission and cessation of employers to the Fund - reported only when outstanding admissions or cessations. |
Head of Governance |
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18 November 2025 |
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Independent Auditors Report on the Pension Fund Accounts 2024/25 |
A report on the External Audit findings of the Pension Fund financial Statements for 2024/25 |
Head of Investment and Accounting |
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Pension Fund Annual Report and Accounts 2024/25 |
2024/25 Annual Report and Accounts for approval |
Head of Investment and Accounting |
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Employer Forum Agenda |
Discussion on Pension Fund Employer Forum Agenda topics |
Head of Pension Fund |
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2025 Actuarial Valuation and Funding Strategy Statement |
Report from the Fund Actuary on the March 2025 triennial valuation process, methodology and assumptions with a draft Funding Strategy Statement for approval prior to consultation |
Head of Pension Fund |
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Annual Training Plan |
Report on Training completed in the year and training recommendations for the up-coming year |
Head of Governance |
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26 February 2026 |
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External Audit Plan for the East Sussex Pension Fund 2025/26 |
Draft External Audit Plan for 2025/6 Pension Fund Financial Statements |
Head of Investment and Accounting |
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2025 Valuation report and results and Final Funding Strategy Statement (FSS) |
Final report and results from the Fund Actuary of the 31 March 2025 triennial valuation with the final FSS for approval post consultation. |
Head of Pension Fund |
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Additional Funding Strategies |
Triennial review of policies that support the FSS and funding position. This includes the Exit Credit Policy, Contribution Rate review Policy and Deferred Debt and Debt Spreading agreement policies. |
Head of Pension Fund |
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Business Plan and Budget 2026/27 |
Report to set the Budget for the Pension Fund for the Financial Year 2026/27 including the Business Plan with key deliverables for the year. |
Head of Investment and Accounting |
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18 June 2026 |
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Governance and Compliance Statement |
Annual Review of Governance and Compliance Statement |
Head of Governance |
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Annual Report of the Pension Board |
Annual report of the Pension Board to the Scheme manager outlining the work throughout the year |
Head of Pension Fund with the Chair of the Board |
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Governance Review |
Review of all Governance approaches to ensure compliance with requirement of ‘Fit for the Future’ consultation. |
Head of Governance |
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23 July 2026 – Strategy training day |
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24 September 2026 |
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External Audit Report for the East Sussex Pension Fund 2025/26 |
Draft External Audit Report for 2025/26 Pension Fund Financial Statements |
Head of Investment and Accounting |
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Carbon Footprinting |
A report on the carbon footprint of the portfolio of ESPF including whether investments are in line with transition pathways. |
Head of Investment and Accounting |
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ESG Impact Assessment |
Annual assessment by Investment consultants on the ESG standing of Investment managers with action plan |
Head of Investment and Accounting |
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Investment Strategy Statement |
Review of the Investment Strategy Statement to take into account any revisions to the investment strategy. Review to include Statement of Investment Principles. |
Head of Investment and Accounting |
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Stewardship Reporting |
Update on status for submitting annual submission to FRC for Stewardship activities for calendar year 2025 |
Head of Investment and Accounting |
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Supplier Update |
Update on supplier contracts and procurements |
Head of Pension Fund |
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26 November 2026 |
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Independent Auditors Report on the Pension Fund Accounts 2025/26 |
A report on the External Audit findings of the Pension Fund financial Statements for 2025/26 |
Head of Investment and Accounting |
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Pension Fund Annual Report and Accounts 2025/26 |
2025/26 Annual Report and Accounts for approval |
Head of Investment and Accounting |
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Employer Forum Agenda |
Discussion on Pension Fund Employer Forum Agenda topics |
Head of Pension Fund |
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Annual Training Plan |
Report on Training completed in the year and training recommendations for the up-coming year |
Head of Governance |
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Actions requested by the Committee |
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Subject Area |
Detail |
Status |
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Training |
Requests were made, following the July 2023 investment workshop day for various training items
The items still to arrange are · How to invest in the energy transition. Eg electric storage/batteries, renewables, nuclear, hydrogen, EV’s. What is cost and access to markets for these investments. · Cost benefit implications of de-risking the portfolio · Core responsibilities of Councillors in their role on the Pension Committee to ensure proper exercise of its responsibilities and powers. Readdressing the need for Governance framework role of the Committee and considering strategic investment change recommendations from expert advisers, rather than directing underlying investment holdings. |
In progress
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Review of WHEB |
Review of the WHEB portfolio to be provided by investment consultant |
November 2025 Meeting |
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Current working groups |
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Title of working group |
Detail and meetings since last Pensions Board and Committee meetings |
Membership |
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Investment Implementation Working Group (IIWG) |
The Investment Working Group and ESG working group have been amalgamated, as agreed at Pensions Committee 21 September 2020. The IIWG has an advisory role to over oversee the implementation of decisions by the Pension Committee in relation to investment decisions and carry out detailed research and analysis for Pensions Committee. |
William Bourne, Russell Wood, Susan Greenwood, James Sweeney, Representatives from Investment Consultant Cllr Fox or substitute committee member is invited to attend |
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Administration Working Group |
The Administration Working Group was set up in 2021 following the conclusion of the ABS and Data Improvement Working Group. The group discuss ongoing administration projects and areas of administration focus including McCloud implementation. |
Cllr Fox, Ray Martin, Neil Simpson, Zoe O’Sullivan, Paul Punter, Susan Greenwood, Ian Gutsell
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Training and Development – attendance at recent events |
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Date |
Topic |
Committee |
Board |
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16 Sep |
ESPF Pension Dashboard data and member experience Covered the connection of East Sussex Pension Fund data to the Pension Dashboard ecosystem and the member experience. |
Cllrs Taylor, Hollidge, Redstone |
Neil, Zoe, Ray, Pippa, Trevor |
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16-17 Sep |
DB Strategic Summit Topics discussed: • Securing benefits and investing for growth: the changing nature of defined benefit pensions • A year on from the US election. What is the outlook for fixed income? • How to enhance your passive equity portfolio • Delivering patient, mission impact investment to the Scottish economy • Delivering better pensions and investment through effective collaboration • Delivering better performance while also creating a positive societal impact: housing • Digital real estate • Dashboard masterclass: Looking under the bonnet – making sure you’re ready for pensions dashboards • Managing currency risk • Playing the (anti) Trump card: the future of Sustainability and ESG in pensions investing • Infrastructure (natural capital) • Consolidation reprised – where are we at and where are we going? • The future of defined benefit pensions |
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Ray |
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Training and Development – members registered to attend future events |
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Date |
Topic |
Committee |
Board |
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22 Oct |
Cyber Resilience for the LGPS: Managing Risk in a Connected World The Panel of experts will examine: • The current cyber threat landscape and emerging risks • The role of third-party suppliers and partners in cyber exposure • The importance of cyber insurance and what it really covers • Best practices in incident response and crisis management • Regulatory expectations and governance considerations |
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Neil, Pippa |
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26 Nov |
2025 Budget and its impact on pensions A panel of experts to explore exactly what changes have been announced and the consequences they will have for the UK’s pension system. This webinar provides an opportunity to discuss what changes have been announced within hours of the Chancellor, Rachel Reeves having delivered her Budget. |
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Zoe, Linda |
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Training and Development – Future Training Offered to Pension Board
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06 Nov |
Introduction to LGPS With so many changes in the scheme proposed by the Government and so many new personnel on Boards and Committees, this is a must-attend event for anyone new to the scheme or looking to refresh their knowledge. • A sound foundation in the basics of the Scheme • A look at recent developments and likely future changes • An opportunity to ask the experts |
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06 Nov |
Cyber Resilience: Practical Strategies for a Stronger Future Practical strategies to strengthen your defences and build resilience that goes beyond the firewall - through every partner, vendor, and supplier you rely on. Key takeaways: • Clear insight on real cyber risks vs. myths, so you can focus on what makes a real difference • Practical steps to embed resilience into your third-party/vendor management • How certifications and insurance fit into your risk strategy |
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19 Nov |
Meeting Tomorrow's Investment Challenges - 2026 update on Policy, Investing in the UK and AI Topics to be addressed: • What Does the Future Hold? - Legal and Regulatory Update: Consolidation and Highlights from the Pension Schemes Bill • Transformative Implications of AI • Investing in the UK – Where Are the Opportunities? |
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26 Nov |
2025 Budget and its impact on pensions A panel of experts to explore exactly what changes have been announced and the consequences they will have for the UK’s pension system. This webinar provides an opportunity to discuss what changes have been announced within hours of the Chancellor, Rachel Reeves having delivered her Budget. |
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29-30 Jan 2026 |
2026 LGPS Governance Conference |
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Training and Development – Future Training Offered to Pension Committee
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06 Nov |
Introduction to LGPS With so many changes in the scheme proposed by the Government and so many new personnel on Boards and Committees, this is a must-attend event for anyone new to the scheme or looking to refresh their knowledge. • A sound foundation in the basics of the Scheme • A look at recent developments and likely future changes • An opportunity to ask the experts |
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06 Nov |
Cyber Resilience: Practical Strategies for a Stronger Future Practical strategies to strengthen your defences and build resilience that goes beyond the firewall - through every partner, vendor, and supplier you rely on. Key takeaways: • Clear insight on real cyber risks vs. myths, so you can focus on what makes a real difference • Practical steps to embed resilience into your third-party/vendor management • How certifications and insurance fit into your risk strategy |
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13 Nov |
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19 Nov |
Meeting Tomorrow's Investment Challenges - 2026 update on Policy, Investing in the UK and AI Topics to be addressed: • What Does the Future Hold? - Legal and Regulatory Update: Consolidation and Highlights from the Pension Schemes Bill • Transformative Implications of AI • Investing in the UK – Where Are the Opportunities? |
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26 Nov |
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26-27 Nov |
Pensions Expert Annual Conference The speakers will debate the implications of the tectonic shifts taking place across the UK pensions landscape, the investment strategies that will be necessary to deliver future performance, and whether lasting solutions can be found to retirement funding needs on a nationwide basis. • Delivering a modern regulatory system that drives better outcomes for savers • Navigating a minefield – delivering better pensions and investments in a world of policy and regulatory upheaval and change • Fixed income • The case for real estate debt • Investing in private markets – panacea or red herring? • Budget reaction • Investing in digital infrastructure • Is sustainable led investing truly dead? • The future of defined benefit pensions • Dashboards – the clock is ticking – we’re nearly there! • How pension dashboards will change the face of member communication • How UK pensions is leading the way for AI adoption at Ford |
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29-30 Jan 2026 |
2026 LGPS Governance Conference |