The Pensions Board of Lambeth Council met on Thursday 16 July 2026 to review the performance of the Lambeth Pension Fund's administration and to discuss its risk register. The meeting also covered the draft business plan for the upcoming financial year and provided a general update on pension-related matters.

Lambeth Pension Administration - Quarterly Performance Update

The Board was scheduled to receive an update on the performance of the Lambeth Pension Administration Service for the period of January to March 2026. This report detailed the administration's performance against agreed key performance indicators, including membership data, case processing times, and member engagement through the 'Engage' self-service platform. It also outlined any reported breaches of the law, complaints, and compliments received. The report highlighted the ongoing progress of the McCloud remedy implementation and provided an update on the Pensions Dashboard initiative.

Lambeth Pension Fund Risk Register

A review of the Lambeth Pension Fund Risk Register was scheduled to inform the Pensions Committee of the arrangements in place for managing risks within the Fund. The report detailed the inherent, current, and target ratings for various risks, including those related to insufficient resources, knowledge and understanding, pay and price inflation, investment performance, and climate change. The register also addressed risks associated with the Fund's financial statements, employer liabilities, and the potential failure of third-party suppliers.

Draft Business Plan Report 2026/27

The Board was set to consider the draft Business Plan for the Lambeth Pension Fund for the financial year 2026/27. This plan outlined the key objectives and milestones for the year ahead, categorised into Administration and Governance, Communication, Actuarial/Funding, Pensions Committee and Board, Financial and Risk Management, and Investment and Strategy. Specific actions and deadlines were detailed for each category, aiming to ensure effective management of the Fund within its regulatory framework.

General Update

A general update on pensions-related matters was scheduled to be presented. This included information on the London Collective Investment Vehicle (LCIV), covering its assets under management and fee savings. The update also addressed the implications of the Fit for the Future reforms, including new deadlines for asset pooling, the Investment Strategy Statement, and the appointment of a Senior LGPS Officer and an Independent Person. Progress on private equity fund investments, the preparation of the 2025/26 Pension Fund accounts, and available training opportunities for Board and Committee members were also to be discussed.