The Pensions Committee and Board of Haringey Council convened to discuss several key items, including the responsible investment policy, a pensions administration update, and the fund's risk management strategy. The agenda also included a review of the fund's investment performance and a discussion of the actuarial valuation.

Haringey Pension Fund Actuarial Valuation 2025

The committee was scheduled to discuss the 2025 actuarial valuation¹ of the pension fund. This included considering advice from Hymans Robertson, the Pension Fund's actuary, regarding assumptions, initial valuation results for the whole fund and an overview of the Funding Strategy Statement review.

The report pack included a summary of key assumptions:

• Discount rate, which is required to place a value on benefits due after the funding time horizon.
• Consumer Price Index (CPI) inflation, as LGPS scheme member benefits are increased by CPI inflation each year.
• Salary increases, impacting on benefits paid to members for service earned prior to 31 March 2014.
• Funding level, measuring past service liabilities at the valuation date.
• Longevity assumptions, impacting on how long the Pension Fund can expect to pay a pension to each member and their dependants.

Responsible Investment Policy

The committee was scheduled to discuss the Fund's draft Responsible Investment Policy, which aims to align with best practices, regulatory requirements, and the long-term interests of members and stakeholders. Responsible investment integrates environmental, social, and governance (ESG) factors into investment decision-making. The draft policy was to be issued for consultation.

The report pack noted that:

The Responsible Investment (RI) Policy is designed to clearly articulate the investment beliefs of the Pensions Committee and Board (PCB) and the Haringey Pension Fund. It sets out the principles that guide how the Fund approaches responsible investment, ensuring that environmental, social, and governance (ESG) considerations are embedded within the decision‑making process.

The policy includes the Fund's engagement framework, which provides a structured approach to monitoring, assessing, and engaging with fund managers and the asset pool.

Pension Fund Quarterly Investment and Performance Update

The committee was scheduled to receive an update on the Pension Fund's performance for the quarter ending 30 September 2025. This included an overview of fund performance, investment manager performance, asset allocation, investments with the pool, a Local Authority Pension Fund Forum (LAPFF) engagement update, and commentary from the independent advisor, John Raisin Financial Services Limited.

According to the report pack, the Fund's investment portfolio on 30 September 2025 was £2.04 billion, a 6.7% increase over the quarter, due to strong returns on equities.

The report pack also noted that the Fund monitors its funding level each quarter, which is the ratio of the market value of assets to the projected future benefit payments. The funding level as at 31 March 2022 was 113%, based on a discount rate of 4.3%.

The Fund had approximately 78% of its assets invested with the London Collective Investment Vehicle (LCIV). It was expected that all Pension Fund investments would be transferred to the pool (or deemed under pool management) by 31 March 2026.

Pensions Administration Update

The committee was scheduled to receive an update on various aspects of pension administration, including membership, the online member self-service portal, service level agreement statistics, the Pensions Dashboard Project (PDP), new admission agreements, employer and employee contributions, internal disputes, annual benefit statements, the McCloud project², and ongoing consultations. The report pack included a request to delegate authority to the Corporate Director of Finance and Resources, Taryn Eves, to negotiate, agree and enter into any admission agreements with admission bodies and schools for the purposes of joining the Local Government Pension Scheme.

The report pack listed the entities that have been awarded contracts to provide catering and cleaning services to schools, including Aspens Services LTD – Dukes Alridge.

Governance Review Implementation Plan

The committee was scheduled to receive an update on the implementation of recommendations from a governance review undertaken by the Funds independent advisor.

The report pack noted that there were 26 recommendations suggested to the PCB categorised under three categories:

• Category 1: Fundamental and Urgent
• Category 2: Easily Implementable
• Category 3: To be Implemented from 2025/26

Fund Risk Management Policy

The committee was scheduled to discuss the implementation of governance review recommendations relating to risk management and to approve the Fund Risk Management Policy.

The report pack stated that the Pension Fund Risk Policy outlines the framework for identifying, assessing, managing, and monitoring risks that may impact the Fund's ability to meet its long-term objectives.

Risk Register

The committee was scheduled to review the Fund's risk register and risk score allocation, with a focus on funding and liability risks.

The report pack summarised key identified risks, including proposed changes to the LGPS (pooling), increases in legislative and regulatory changes, volatility in financial markets, the adequacy of the London CIV's resources and ESG risk.

Haringey Pension Fund Annual Report

The committee was scheduled to consider the Haringey Pension Fund Annual Report and unaudited accounts for 2024/25, prior to its publication. The report included sections on management and financial performance, the pension fund's annual statement of accounts, investment policy and performance, scheme administration, and the actuary's report.

Forward Plan

The committee was scheduled to discuss topics for upcoming meetings and to suggest future training.