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• 01

  Apologies

  

• 02

  Terms of Reference of the Pension Committee

  

  To note the Terms of Reference of the Pension Committee

   

   

   

• 03

  Declarations by Members of Statutory Disclosable Pecuniary Interests, Compulsory Registerable Non-Pecuniary Interests and Voluntary Registerable Non-Pecuniary Interests in Matters on this Agenda

  

• 04

  Announcements

  

  Broadcast of the meeting

   

  The Chair to announce the following: ‘In addition to the rights by law that the public and press have to record this meeting, I would like to remind everyone that this meeting is being broadcast live by the Council to the Internet and can be viewed on our website for twelve months after the meeting. After that time, webcasts are archived and can be made available upon request.

   

  If you have asked to address the meeting, you are deemed to be consenting to having your contributions recorded and broadcast, including video when switched on, and to the use of those sound recordings and images for webcasting and/or training purposes.’

   

  Any other announcements

• 05

  Deputations (If Any)

  

  Requests to speak at the Committee on a matter within its terms of reference must be made in writing to the clerk named on the front of this agenda by 5pm two working days before the meeting.

   

• 06

  Notification of Any Items of Business the Chair Decides to Take as Urgent

  

• 07

  Minutes

  

  To approve as a correct record the Minutes of the meeting held on 10th March 2025.

   

• 08

  Progress Update on Responsible Investment Actions and Conflict Affected and High Risk Area (CAHRA) Review

  

  Report of the Executive Director Corporate Services.

   

  This report provides an update on progress against the five actions agreed by the Pension Committee in March 2025 in response to the petition on ethical investment. It outlines work undertaken to scope the independent fund review, enhance transparency on fund holdings, initiate CAHRA-related disclosures, review investment beliefs, and coordinate with investment managers.

   

  This report has an appendix, which contains information exempt within the meaning of Schedule 12A to the Local Government Act 1972 and is not for publication. The appendix has, therefore, been circulated to Committee Members only.

   

  If the Committee wishes to discuss the contents of a closed exempt appendix it may pass the proposed resolution identified at the end of the agenda to exclude members of the public and the press from the proceedings for that discussion.

   

   

• 09

  Performance Report

  

  Report of the Executive Director Corporate Services.

   

  This report presents the performance of the Pension Fund investment portfolio and that of the individual investment managers for the quarter ended 31 March 2025.

   

   

   

• 10

  Engagement Report

  

  Report of the Executive Director Corporate Services.

   

  This report brings Members up to date with engagement activity undertaken by the Fund and on its behalf by LAPFF (the Local Authority Pension Fund Forum) since the last Committee meeting.

   

  This work is important to the Fund’s ambition to be a fully engaged investor and demonstrates its commitment to Responsible Investment and engagement in Environmental, Social and Governance (ESG) issues as the Fund works to maximise returns on investment.

   

   

   

• 11

  London Collective Investment Vehicle Progress Report

  

  Report of the Executive Director Corporate Services.

   

  This report provides a quarterly update on developments at the London Collective Investment Vehicle (CIV) in creating sub-funds for the spectrum of asset classes, on-boarding of assets and development of the CIV’s staff resource. Progress with the London CIV contributes to the Government’s pooling agenda and drive to reduce costs in the Local Government Pension Scheme (LGPS).

   

   

   

• 12

  Ministry of Housing Communities and Local Government (MHCLG) Consultation Update

  

  Report of the Executive Director Corporate Services.

   

  This report provides Camden Pension Committee with an update on the Government’s consultation on the Local Government Pension Scheme (LGPS) entitled "Fit for the Future." The consultation, initiated by MHCLG, aims to strengthen LGPS investment management by addressing issues of fragmentation and efficiency. This report summarises the key proposals and Camden’s response.

   

   

   

• 13

  Triennial Valuation Assumptions

  

  Report of the Executive Director Corporate Services.

   

  This report updates Pension Committee on the assumptions underpinning the triennial valuation for salary growth, discount rate (asset outperformance assumption) and other assumptions used in calculating the triennial valuation of the Pension Fund liabilities.

   

  This report has an appendix, which contains information exempt within the meaning of Schedule 12A to the Local Government Act 1972 and is not for publication. The appendix has, therefore, been circulated to Committee Members only.

   

  If the Committee wishes to discuss the contents of a closed exempt appendix it may pass the proposed resolution identified at the end of the agenda to exclude members of the public and the press from the proceedings for that discussion.

   

   

• 14

  Risk Register

  

  Report of the Executive Director Corporate Services.

   

  This report presents an update to the risk register for the Pension Fund, with an action plan stating how risks will be managed.

   

   

   

• 15

  Any Other Business that the Chair Considers Urgent

  

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• 

  Matters reserved to the Pension Committee 25-26

• 

  Minutes of Previous Meeting

• 

  7. Action Points Paper (Jul 25 PC) - Public

• 

  8. Performance Report - March 2025 (002)

• 

  8 a Apex - London Borough of Camden Report - Q1 2025 final 2

• 

  9. Engagement Report QE March 2025 (Jul 25 PC)

• 

  9 a LAPFF_Quarterly Engagement Report_Mar 2025

• 

  9 b Extract from PIRC_2025.Q1.Camden.Full

• 

  10. CIV Progress Report QE March 2025 (Jul 25 PC)

• 

  11. Fit for the Future Consultation Update (Jul 25 PC)

• 

  12. Triennial Valuation 2025 assumptions (Jul 25 PC)

• 

  13. Risk Register Cover Report (Jul 25 PC)

• 

  13. a Camden Risk Register (Jul 25 PC)

• 

  13. b 23-24 Risk Register

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• 

  Vacant

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  Kathy Anifowose

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  Cllr. Kemi Atolagbe

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  Cllr. Anna Burrage

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  Billie Cooper

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  Cllr. Matt Cooper

• 

  Hamilton Daley

• 

  Cllr. Nina De Ayala Parker

• 

  George Ekontang

• 

  Cllr. Rebecca Filer

• 

  Cllr. Edmund Frondigoun

• 

  Errol Ghanie

• 

  Cllr. Heather Johnson

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  Cllr. Jenny Mulholland

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  Priya Nair

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  Sola Odusina

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  Daniel Omisore

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  Saul Omuco

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  Joanne Reeves

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  Carlito Rendora

• 

  Financial Adviser, Jon Rowney

• 

  Vinothan Sangarapillai

• 

  Democratic Services

• 

  Cllr. Tom Simon

• 

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• 

  Peter Taylor

• 

  Vicky Wemyss-Cooke

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