Westminster Council is exploring investment strategies that align with the Paris Agreement, potentially shifting its pension fund towards more environmentally conscious options. The Pension Fund Committee convened on Thursday 26 June 2025 to discuss this and other key issues, including the fund's performance and risk management.
A significant part of the meeting focused on an update regarding the London CIV (LCIV) Global Alpha Growth Paris Aligned investment strategy. This review likely covered the fund's performance and how well it adheres to the goals set out in the Paris Agreement.
Beyond environmental considerations, the committee also addressed more general financial matters. They reviewed the quarterly performance of the pension fund, examining investment returns and asset allocation against established benchmarks. Documents such as the Westminster Pension Fund - Q1 2025 QMR and a funding update at 31 March 2025 provided detailed insights into the fund's financial health.
Furthermore, the committee considered a proposal to introduce a Shared Cost Salary Sacrifice Additional Voluntary Contribution (SCAVC) scheme. This initiative aims to provide employees with a tax-efficient way to increase their pension contributions. The meeting also included updates on pension projects, governance, and administration, ensuring the fund's smooth operation and adherence to best practices. Agenda frontsheet 26th-Jun-2025 18.30 Pension Fund Committee.pdf provides a full list of agenda items.