1. Introduction

The Pensions Board for Bexley was set up with two core functions:

(a) to assist the Administering Authority in securing compliance with the Regulations, any other legislation relating to the governance and administration of the Scheme, and requirements imposed by the Pensions Regulator in relation to the Scheme

(b) to ensure the effective and efficient governance and administration of the Scheme

During 2023/24 the Pension Board held two meetings and the Board considered matters in line with its business plan.

2. Matters considered by the Pensions Board during 2023/24

(a) Appraisal of Pensions Committee Reports
The Board considered the reports and decisions of the Pensions Committee as part of its governance role. The board was satisfied that the Pensions Committee had followed due process and raised no concerns in respect of the decisions it had made.

(b) Fund Communications
The Board reviewed the Fund’s Communication Policy. No changes had been made to either the principles or method of communication since the last review and the board was satisfied that it continues to meet the requirements as set out in the LGPS regulations.

(c) Risk Register
The Board reviewed the Fund’s risk register. There were no changes to the risk probability or impact scores since the last review.

(d) Administration update
The board received reports on the performance of LPP who provide the pensions administration function of behalf of the London Borough of Bexley.

Responsible Investment Policy

This can be accessed in full on the Bexley website at Responsible Investment Policy.