The Pension Fund Panel of Hounslow Council is scheduled to convene on Thursday, 18 June 2026. The meeting's agenda includes a review of the Annual Business Plan for 2026/27, an update on training, and a quarterly overview of the Pension Fund's performance and general matters.

Annual Business Plan and Training Update

The Panel is set to consider the proposed work programme for the Pension Fund Panel for the year 2026/27, as outlined in the Annual Business Plan. This plan indicates an increased number of policy and strategy documents that will be presented for approval, a consequence of changes to the Local Government Pension Scheme (LGPS) Regulations. These new regulations necessitate updates to existing policies and the development of new ones, including a new training policy. Furthermore, the regulations have strengthened the knowledge and skills requirements for Pension Fund Panel members, requiring active engagement in structured learning and development. The report pack includes a training log detailing past and upcoming training opportunities for panel members and officers, including mandatory LGPS fundamentals training.

Quarterly Overview and General Matters

A comprehensive report is scheduled for discussion, providing an overview of the Pension Fund's investment performance and value as of 31 March 2026. The net assets of the fund stood at £1,395.9 million at the end of March 2026, representing a decrease of £82.8 million from the previous quarter. The report will also detail general administrative and regulatory matters, along with income and expenditure for the financial year 2025/26. Key updates include the successful implementation of system improvements to incorporate McCloud remedy information in the 2026 Annual Benefit Statements, addressing a prior limitation. The Fund has also successfully connected to the national Pensions Dashboard Programme, meeting its regulatory requirements, with further preparations ongoing ahead of its public launch. The report will also summarise the Government's response to two LGPS consultations held in 2025: Access & Fairness and Access & Protections.

Pension Fund Administration Performance Report and Regulatory Update

The Panel is scheduled to review the performance of the pension administration service for the period of 1 January 2026 to 31 March 2026. This report, presented by West Yorkshire Pension Fund (WYPF), which administers the Hounslow Pension Fund, will cover key performance indicators (KPIs) and benchmarking. The report highlights that the target for processing tasks within allotted days was met in January (98%), February (96%), and March (96%) 2026. Specific areas of focus include retirement quotes and actuals, which consistently exceeded targets, and death processes, which showed improved performance but require ongoing monitoring. The report also addresses the impact of the McCloud remedy and staffing levels on workload volumes, particularly in medium and low-priority work areas, noting that system upgrades are needed to address bottlenecks. The report includes appendices detailing KPI narratives, the age profile of scheme members, customer survey results, and current technical issues.

Pension Fund Risk Register

The Pension Fund Panel is to consider an updated risk register for the period ending 31 March 2026. This report details the main risks affecting the Hounslow Pension Fund and the mitigation strategies in place. A new risk, Geopolitical Risk (risk number 3.1), has been added to discretely assess and monitor the impact of ongoing global political tensions on the Fund. The register categorises risks under five main headings: Funding and Investment, Cyber Risk, Administration Risk, and Resources and Skills. The report outlines the scoring matrix for current risks and the criteria for assigning ratings based on impact and likelihood.

Investment Adviser's Quarterly Report

The Panel is scheduled to receive and review the Investment Adviser's Quarterly Report, which will provide an update on the fund's investments for the period ending 31 March 2026. This report will likely detail investment performance, asset allocation, and any strategic recommendations from the investment advisers.

Other Agenda Items

The meeting's agenda also includes the confirmation of the minutes from the previous meeting held on 18 February 2026. Additionally, there will be a discussion on the exclusion of the press and public for specific agenda items, likely due to the sensitive nature of the information to be discussed, as defined by Schedule 12A of the Local Government Act 1972. This will be followed by the consideration of confidential minutes from the 18 February 2026 meeting and minutes from the Pension Board meeting held on 15 April 2026. The date of the next meeting, scheduled for 22 September 2026, will also be confirmed.