Notice of Meeting and Agenda

Pension Fund Sub-committee, together with Pension Board

Venue: Council Chamber, Council Offices, Kirkwall.

Date: Wednesday, 16 September 2026.

Time: 14:00.

IMAGE: The Orkney Islands Council crest and logo, identifying the issuing organisation. Text: “ORKNEY ISLANDS COUNCIL”.

Dear Councillor,

You are invited to attend the above meeting.

A note of the business to be considered is attached.

Lorna Richardson

Deputising Chief Executive.

Contact

Clerk Name: Sandra Craigie.

Clerk Telephone: 01856 873535 extension 2205.

Clerk Email: committees@orkney.gov.uk.

Pension Fund Sub-committee Membership

Councillors Alexander G Cowie (Chair), P Lindsay Hall, Steven B Heddle, Rachael A King, Mellissa-Louise Thomson and Heather N Woodbridge.

Pension Board Membership (Non-Voting)

Employer Representatives: Councillors Graham A Bevan, David Dawson and Owen Tierney, Orkney Islands Council; Karen Ritch, Orkney Ferries Limited.

Trade Union Representatives: Karen Kent (Unison), Eileen Swanney (Unison), Mark Vincent (GMB).

Further Information

This is a meeting which is open to the public.

This agenda and associated reports are available in portable document format (pdf) here.

A paper copy of the agenda and associated reports is available on request from committees@orkney.gov.uk.

Hybrid Meeting

Please note that this meeting is scheduled to be held in the Council Chamber. However, arrangements will be made for members to join the meeting remotely, should they wish.

For those attending remotely, they will be asked to declare:

They are in a room with no other persons present.
That no persons can overhear the discussions.
That they will not answer any other calls or attend to any other business whilst participating in the meeting.
That cameras will be kept on at all times without exception.

Audio Recording Notice

Please note that this meeting will be broadcast live (audio only) over the Internet on Orkney Islands Council’s website. The meeting will also be recorded, with the recording publicly available for listening to after the meeting for at least 12 months. The Council is a Data Controller in terms of data protection legislation. Data collected during the audio cast will be retained in accordance with the Council’s Data Protection Policy. Further information about how the Council uses personal information and associated rights is available on the Council’s website.

Order of Business

Preliminaries

Apologies.
Declarations of Interest.

Members are asked to consider whether they have an interest to declare in relation to any item on this agenda. Any member making a declaration of interest should indicate whether it is a financial or non-financial interest and include some information on the nature of the interest. Advice may be sought from Officers prior to the meeting taking place.

Orkney Islands Council Pension Fund – Audit Report to those charged with Governance – report by Director of Enterprise and Resources attached.
Pension Fund – Annual Accounts – report by Director of Enterprise and Resources attached.
Revenue Expenditure Outturn – report by Head of Finance attached.
Revenue Expenditure Monitoring – report by Head of Finance attached.

Exclusion of Public

The Sub-committee is requested to exclude the public from the meeting for the following item on the grounds that it would involve the likely disclosure of exempt information of the class described in the relevant paragraph of Part 1 of Schedule 7A of the Local Government (Scotland) Act 1973 as amended.
Pension Fund – Triennial Valuation – Valuation Process and Assumption Setting – report by Head of Finance attached.

Not for publication by virtue of paragraph 6 of Part I of Schedule 7A of the Local Government (Scotland) Act 1973.

Statement of Managed Funds – report by Head of Finance attached.