The Pensions Committee for Newham Council was scheduled to meet on 10 December 2025 at Newham Town Hall. The agenda for the meeting included a pension administration update, a business plan update, and an investment strategy update. Some discussion of the investment strategy was expected to be held in private due to the commercially sensitive nature of the information.

Pensions Administration

The committee was scheduled to consider an update on the administration of the Newham Pension Fund, including legislative changes impacting the Local Government Pension Scheme¹, overall administration performance, and updates from the Local Pension Board.

The report pack included an update on the McCloud judgement², the pensions dashboard, and consultations on amendments to the Local Government Pension Scheme. It also included a performance update from the Local Pension Partnership Administration (LPPA), a review of compliance with the Pensions Regulator's General Code of Practice, and an update on membership data.

The report pack also contained an employer update, which advised the committee of proposed changes to the London Borough of Newham Pension Fund Admission policy, and the latest position relating to admissions into the fund. It noted that there were 21 outstanding employer admissions, and summarised the status of those cases.

Pension Fund Business Plan

The committee was scheduled to discuss an update on the Newham Pension Fund Business Plan 2025/26, including updates on the London Collective Investment Vehicle (LCIV), LGPS general updates, and the Pension Schemes Bill.

The report pack included a draft Funding Strategy Statement (FSS) 2025, which was prepared in conjunction with the Fund's Actuary, Barnett Waddingham, and in accordance with Regulation 58 of the LGPS Regulations 2013. The purpose of the FSS is to establish a clear and transparent fund-specific strategy which will identify how employers' pension liabilities are best met going forward. The report pack also included a draft Pension Fund Annual Report 2024-25, which included the Pension Fund Accounts 2024-25.

The report pack noted that officers and the Fund's Investment Adviser (FIA) were exploring the voting and engagement services that are currently available and would provide feedback to the PC.

Investment Strategy

The committee was scheduled to receive an update on the Fund's investment strategy and its implementation. As of 30 September 2025, the Fund's asset valuation stood at £2.047 billion, an increase of £112 million from the previous quarter. The report pack included a report from Barnett Waddingham on the Fund's investment performance, including a funding update as at 30 September 2025. The report pack noted that the Fund had an estimated funding deficit of £9 million, representing a funding level of 99%.

The report pack also noted that the funding position was dependent on the Fund's investment performance and future market conditions.

The agenda indicated that some of the discussion on this item would take place with the press and public excluded, because it was expected to involve the disclosure of exempt information.