Agenda

To receive any apologies or substitutions for the meeting.

To approve and sign as a true and correct record the Part I (public) minutes of the previous meeting held on 6 March 2025.

To receive any declarations of disclosable interests or dispensations granted by the Standards Committee.

To receive any announcements through the Chairman.

To review progress on any actions requested by the Committee in previous meetings.

To receive the minutes of the meeting of the Local Pension Board held on 11 February 2025. To review the summary of the recommendations made by the Board.

The Council welcomes contributions from members of the public.

Statements

If you would like to make a statement at this meeting on any item on this agenda, please register to do so at least 10 minutes prior to the meeting. Up to 3 speakers are permitted to speak for up to 3 minutes each on any agenda item. Please contact the officer named on the front of the agenda for any further clarification.

Questions

To receive any questions from members of the public or members of the Council received in accordance with the constitution.

Those wishing to ask questions are required to give notice of any such questions in writing to the officer named on the front of this agenda no later than 5pm on Thursday 13 March 2025 in order to be guaranteed of a written response. In order to receive a verbal response, questions must be submitted no later than 5pm on Monday 17 March 2025. Please contact the officer named on the front of this agenda for further advice. Questions may be asked without notice if the Chairman decides that the matter is urgent.

Details of any questions received will be circulated to Committee members prior to the meeting and made available at the meeting and on the Council’s website.

A report from Barnett Waddingham on approach to setting the key assumptions for the triennial valuation. This includes training on assumption setting.

A report for the committee’s ongoing oversight of:

·       Scheme, Regulatory, Legal and Fund Update

·       Health Check Dashboard – To 31 December 2024

·       Administration KPI update including an update of the KPI Improvement Plan– 1 December 2024 to 28 February 2025

a)    McCloud and Pension Dashboard updates

·       Risk Register

·       Key Financial Controls highlights

·       Audit update – SWAP KC actions

·       Training plan 2025/26

The Head of Wiltshire Pension Fund will present the latest Fund Business Plan and Budget to Committee for approval.

Verbal update from the Pension Administration Lead.

The Pension Administration Lead will present a full closure report, including a transfer update to Oracle of unfunded pensions.

To review the work plan for the committee.

To determine the date of the next Committee meeting dates:

·       Investment focused meeting 19 June 2025

·       Administration focused meeting 17 July 2025

Any other items of business which, in the opinion of the Chairman, should be considered as a matter of urgency. Urgent items of a confidential nature may be considered under Part II of this agenda.

To consider passing the following resolution:

To agree that in accordance with Section 100A(4) of the Local Government Act 1972 to exclude the public from the meeting for the business specified in Item Numbers 17 – 20  because it is likely that if members of the public were present there would be disclosure to them of exempt information as defined in paragraphs 1 & 3 of Part I of Schedule 12A to the Act and the public interest in withholding the information outweighs the public interest in disclosing the information to the public.

Item(s) during consideration of which it is recommended that the public should be excluded because of the likelihood that exempt information would be disclosed

To approve and sign as a true and correct record the Part II (private) minutes of the previous meeting held on 6 March 2025.

To consider the Part II (private) minutes, and recommendations arising, from the last meeting of the Local Pension Board held on 11 February 2025.

An update by the Head of Wiltshire Pension Fund concerning changes to the LPGS.

A selection of investment topics which have been rolled over from the meeting on 6 March 2025.