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There is no summary of this meeting yet. One is written once the council publishes the minutes. The agenda and papers are below.
In accordance with the Code of Conduct adopted by the City & County of Swansea, the following interests were disclosed: 1) Councillors P Bentu, P Downing, M B Lewis, S Pritchard & W G Thomas declared personal interests in the agenda as a whole. 2) I Guy declared a personal interest in the agenda as a whole. Officers: 3) K Cobb, J Dong, D Smith & J Parkhouse declared personal interests in the agenda as a whole.
Mike Johnston & Chris O’Bryen of Hymans Robertson provided a report and presentation regarding the 2025 Investment Strategy Review. It was outlined that the purpose of the report was to test the efficiency of the current strategy, relative to alternatives and assessed whether any changes to the investment strategy or structure would support the long-term objectives of the Fund, in the context of LGPS pooling. The Committee were provided with details on the background, LGPS pooling and Fit for Future and executive summary. The recommendations and implementation actions included in the report provided the actions required over Q1 2026; the summary of recommendations: key actions; pooling implementation: strategic asset allocation; structure review; and strategy review. The Committee asked questions of the Hymans Robertson representatives, which were responded to accordingly. Resolved that the recommendations and implementation actions contained in the report, be approved.
Jeff Dong, Deputy S151 Officer presented a report which sought to approve the Funding Strategy Statement 2025, following consultation with Employers. It was outlined that the objectives of an LGPS Funding Strategy Statement (FSS) were to establish a clear and transparent plan for meeting employer pension liabilities, to support the stability of employer contribution rates and to ensure the fund's solvency and long-term cost-efficiency. The statement aimed to balance potentially conflicting goals, such as affordability, transparency, contribution stability, and prudence in funding decisions. The key objectives of a LGPS FSS were provided. The Funding Strategy Statement was provided at Appendix 1. A full consultation exercise with Employers in the scheme was undertaken during January 2026. No responses/comments were received. Resolved that the Funding Strategy Statement 2025, following consultation response from employers, be approved.
Deputy S151 Officer presented a report which sought to determine an annual training programme for Pension Fund Committee members, Local Pension Board members and advisory officers of the City & County of Swansea Pension Fund. It was noted that paragraph 23 contained the training undertaken in 2023/24. The 2024/25 training was circulated to the Committee prior to the meeting. Resolved that the assessment and outline training plan in Section 24 be approved and further opportunities which are identified during the year be delegated to the Deputy S 151 Officer for implementation and approval.
The Deputy S151 Officer presented a report which sought to progress implementation of Wales Pension Partnership (WPP) ‘Fit for the Future’ Business case approved by the Westminster Government in April 2025, by the City & County of Swansea Pension Fund Committee in March 2025 and Swansea Council in July 2025. Resolved that the updates to the Inter Authority Agreement (IAA) be agreed and forwarded to Council on 25 March 2026, with a recommendation of approval.
The Committee was requested to exclude the public from the meeting during consideration of the item(s) of business identified in the recommendation(s) to the report on the grounds that it / they involved the likely disclosure of exempt information as set out in the exclusion paragraph of Schedule 12A of the Local Government Act 1972, as amended by the Local Government (Access to Information) (Variation) (Wales) Order 2007 relevant to the item(s) of business set out in the report. The Committee considered the Public Interest Test in deciding whether to exclude the public from the meeting for the items of business where the Public Interest Test was relevant as set out in the report. Resolved that the public be excluded for the following items of business. (Closed Session)
Councillors must say when they have a personal link to something being discussed, such as a job, a property or a family member. A prejudicial interest is one strong enough that the councillor usually leaves the room and takes no part.
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