The Local Pension Board of West Northamptonshire Council met on Tuesday 7 July 2026 to discuss a range of governance, policy, and administrative matters concerning the Northamptonshire Pension Fund. Key topics included a review of the fund's governance and compliance, an informal complaints policy, and the external audit plan.

Governance and Compliance Report

The Board was scheduled to receive an update on the governance and compliance of the Northamptonshire Pension Fund. This report, presented by Michelle Oakensen, Governance and Regulations Manager, was intended to inform the Board of significant current issues impacting the fund's management and administration. The report covered developments in the Local Government Pension Scheme (LGPS) in England and Wales, including responses to consultations such as Fit for the Future and Access and Fairness, which have led to new regulations concerning pooling, governance, survivor benefits, and death grants. It also addressed the ongoing work on pension dashboards, updates from the Scheme Advisory Board (SAB), and information from The Pensions Regulator (TPR) and The Pensions Ombudsman (TPO). The report also detailed representation within the Northamptonshire Pension Fund and opportunities for skills and knowledge development for Board members.

Informal Complaint Policy

Madalina Bratec, Governance Specialist, was scheduled to present the draft Informal Complaints Policy for the Fund's review. This policy aims to provide a framework for members, beneficiaries, and employers to raise and resolve any dissatisfaction with the service received from the Northamptonshire Pension Fund at the earliest opportunity. The policy outlines the process for making an informal complaint, expected response times, and how the Fund will handle complaints, with a clear route to the formal Internal Dispute Resolution Procedure (IDRP) should informal resolution not be achieved. The policy also incorporates requirements for handling complaints related to Pension Dashboards, as mandated by the Pensions Dashboards Regulations 2022.

External Audit Plan

The Board was to be presented with the External Audit Plan for the Northamptonshire Pension Fund for the year ending 31 March 2026, prepared by Grant Thornton, the Fund's external auditors. The plan detailed the key risks and areas of focus for the audit, including the valuation of Level 3 investments and the potential for management override of controls. The report outlined the planned audit procedures, materiality levels, and the proposed audit fee of £142,405. The timeline for the audit process, from planning to sign-off, was also detailed, with the statutory deadline for the publication of the Pension Fund's Annual Report set for 1 December 2026.

Administration Report

Mark Whitby, Head of Pensions, was scheduled to provide an update on the administration of the Northamptonshire Pension Fund for the period 1 March to 31 May 2026. This report included an overview of administrative performance against Key Performance Indicators (KPIs), noting that 60% of KPIs were rated green, with 100% of employer contributions received on time. The report also covered progress on Business Plan activities, the fund's budget position, updates to the Fund's Risk Register, and details of new admissions and cessations of employers from the Fund. It was noted that one new admission body and one new academy trust joined the Fund, while one admission body ceased participation. The report also highlighted one new material overpayment identified during the period.

Northamptonshire Pension Fund Board Agenda Plan

The Board was scheduled to review the Northamptonshire Pension Fund Board Agenda Plan, which sets out the planned items for future meetings up to January 2027. This plan is subject to refinement as implementation plans for current consultations and regulatory changes become clearer. Additional items are expected to be added as these developments unfold.

The meeting also included scheduled discussions on the Minutes of the previous meeting, Chair's Announcements, the Northamptonshire Pension Fund Board Agenda Plan, and the exclusion of press and public for specific private items, including private minutes and a pooling update.