Kent County Council Pension Fund Committee’s recently published minutes from its meeting on 23 September 2025, disclose several key decisions and future intentions.
Investment Consultant Contract Extended
The Committee resolved to extend the Investment Consultant contract with Mercer for a period of one year from 1 December 2025. This decision was made as the previous three-year contract, awarded in 2022, was due to end in November 2025. The Fund determined that combining the two separate year extensions was not possible as it was not part of the agreed contract. The Fund anticipates needing support from both Mercer and Barnett Waddingham over the next couple of years, and while government guidance suggests taking primary investment advice from asset pools, the Fund emphasized the importance of continued independent advice tailored to its specific needs. (Source: Kent County Council Pension Fund Committee Minutes, 23 September 2025, page 4)
Strategic Pooling Partner Selected
The Committee approved Borders to Coast Pensions Partnership (B2C) as the preferred partner for the Kent Pension Fund. This decision follows the government’s identification of two pools, including the ACCESS Pool, that did not meet its future vision. The Fund had considered moving to an alternative pool early in the process, identifying three interested pools. Mercer provided information to develop the recommendation, with B2C identified as the most suitable due to its 2020 Strategy and vision aligning with the Fund’s values. Nine of the eleven B2C partner funds have agreed to accept the Kent Fund. A transition from ACCESS to B2C is expected to begin in March 2026, with asset management costs within B2C anticipated to be lower than those in the ACCESS pool. The Committee also approved continued work with existing ACCESS partner funds to develop a transition plan and delegated authority to the Head of Pensions and Treasury, in consultation with the Chair, to undertake necessary preparatory workstreams. The Full Council will need to approve the decision to enter into pooling arrangements with B2C. (Source: Kent County Council Pension Fund Committee Minutes, 23 September 2025, pages 5-6)
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