The Head of Governance and Corporate Services presented the updated LPB Constitution and Terms of Reference following review and changes made in response to recommendations from the independent governance review.

Members discussed the proposed amendments noting some typographical errors for correction. Members also sought clarification that updates to the Constitution regarding rotation of Employer and Employee Representatives as Chair and Vice Chair were scheduled for discussion at the 2026 LPB Effectiveness Review and it was agreed to remove the additional reference to such rotation until the Board had discussed them further. Members also queried the term limit shown for the Independent Adviser, which was inconsistent with the overall limit for Board members. The Independent Adviser agreed on the need for consistency wherever possible. It was agreed to remove reference to the Independent Adviser’s term limit pending further discussion.

RESOLVED: Members approved the updated Local Pension Board Constitution and ToR at Appendix A with agreed amendments.