The Pension Committee of Waltham Forest Council was scheduled to consider a range of important financial and governance matters. Key discussions were scheduled to include the draft Pension Fund Annual Report and Accounts for 2025/26, updates on training strategies, and a review of policies related to conflicts of interest and governance.

Fit for the Future - Conflict of Interest Policy and Governance Strategy

The committee was scheduled to consider the Fit for the Future regulations, which were set to become effective from 30 June 2026. This agenda item included a draft Conflicts of Interest Policy, which was scheduled to outline the arrangements for identifying, monitoring, and managing actual, potential, and perceived conflicts of interest for those involved in the management and governance of the Waltham Forest Pension Fund. The policy was scheduled to be put out for consultation before a final approval at a future meeting. Additionally, updated checklists were scheduled to be provided to ensure the Fund could meet the requirements of the new investment and governance regulations within the stipulated timescales.

Draft Pension Fund Annual Report and Accounts 2025/26

The committee was scheduled to consider the draft Pension Fund Annual Report and Accounts for the financial year ending 31 March 2026. This comprehensive report was scheduled to include the draft Pension Fund Accounts, the Investment Strategy Statement for March 2026, the Governance Compliance Statement for 2025/26, the Communications Policy Statement, the Pension Fund Risk Register, and the Pensions Administration Strategy. The report was scheduled to detail the financial performance of the fund, noting an increase in net assets of £77.6 million over the last financial year. It was also scheduled to highlight that the Pension Fund was underperforming against benchmarks by 5.6% for the year 2025/26, although it was noted to have improved its ranking within the LGPS universe.

Training Item: Strategic Asset Allocation

A verbal report was scheduled to be presented on strategic asset allocation. This topic was considered crucial for the Pension Committee as it was scheduled to directly influence the Fund's long-term investment performance and its ability to meet future pension liabilities.

Presentation from the London CIV

The committee was scheduled to receive a presentation from the London Collective Investment Vehicle (CIV)¹. The London CIV is an investment pooling initiative for Local Government Pension Schemes in London, aiming to achieve economies of scale and improve investment performance. The presentation was expected to cover the CIV's role, investment pooling strategies, local investments, responsible investments, and the impact of the Fit for the Future regulations.

Training Update

A detailed training update was scheduled, covering materials from pages 13 to 78 of the report pack. This was likely to include information on the ongoing training requirements for committee members and officers to ensure they possessed the necessary knowledge and skills to effectively manage the pension fund, particularly in light of new regulations and strategies. The report specifically mentioned the potential approval of a new draft Training Strategy and draft Training Plan for the Committee, Pension Board, and officers for 2026/27, aligning with government legislation.

Pension Administration Update

An update on pension administration services was scheduled, likely covering performance statistics, complaints, and quality questionnaire responses. This was expected to provide insight into the efficiency and effectiveness of the Pensions Shared Service (PSS)², which administers the pension scheme on behalf of the council. The report indicated that overall performance was scheduled to be maintaining a high standard, exceeding targets.

Performance Report and Management Expenses October 2026

The committee was scheduled to review the performance of the pension fund's investments for the quarter ending 30 June 2026, alongside a summary of management expenses for the same period. As of 30 June 2026, the Pension Fund investments were scheduled to be valued at £1,269.3m, an increase of £120.4m from the previous quarter. The report was scheduled to highlight that the fund was on target to meet its overall strategic investment target based on the Funding Strategy agreed after the 2025 triennial valuation. However, it was also scheduled to note underperformance from specific managers, including LCIV (Longview) – Global Equity Focus Fund and LCIV (Baillie Gifford) – Global Alpha Growth Paris Aligned Fund, with plans to review these mandates.

The Pension Committee was also scheduled to consider a report on Fit for the Future regulations, which included a draft Conflicts of Interest Policy. This policy was scheduled to outline the arrangements for identifying, monitoring, and managing actual, potential, and perceived conflicts of interest for those involved in the management and governance of the Waltham Forest Pension Fund. Updated checklists were also scheduled to be provided to ensure the Fund could meet the requirements of new investment and governance regulations.

Additionally, the committee was scheduled to receive a training update, likely covering ongoing requirements for committee members and officers to ensure they possess the necessary knowledge and skills to manage the pension fund, particularly in light of new regulations and strategies. A detailed training strategy and plan for 2026/27 were scheduled for potential approval.

Finally, an update on pension administration services was scheduled, expected to cover performance statistics, complaints, and quality questionnaire responses, providing insight into the efficiency of the Pensions Shared Service (PSS). The report was scheduled to indicate that overall performance was maintaining a high standard, exceeding targets.