The Pensions Committee and Board of Haringey Council met on Thursday 15 October 2026 to discuss the Pension Fund's external audit update, its risk register, and investment performance. The meeting also covered updates on pension fund administration, a draft annual report, and the fund's training strategy.

Pension Fund External Audit Update – Year to 31 March 2026

The committee was scheduled to consider the audit plan prepared by KPMG, the Pension Fund's external auditors, for the year ended 31 March 2026. This included reviewing the statutory annual report from KPMG, which highlights their findings from the audit of the Pension Fund's statutory accounts. The committee was also asked to note and comment on the audit plan and the IAS 260 report, which communicates key findings from the audit. A recommendation was made to delegate the sign-off for the Pension Fund Accounts 2025/26, subject to final audit changes, to the Section 151 Officer in consultation with the Chair.

Haringey Risk Register

This agenda item was scheduled to provide an update to the Pensions Committee and Board on the Pension Fund's risk register. The intention was to offer an opportunity for the committee to further review the allocation of risk scores. The report outlined the Fund's risk scoring system, which assesses the potential impact and likelihood of identified risks, categorising them using a Red-Amber-Green (RAG) rating. Key identified risks included regulatory non-compliance and maladministration, insufficient member knowledge, loss or corruption of scheme data due to system failure or cyber incidents, and poor investment governance and oversight.

Pension Fund Administration Update

This report was intended to provide the Pensions Committee and Board with updates on the Pension Fund's administration activities. The updates were scheduled to cover:

• Pension Fund membership: A breakdown of membership numbers as of 30 June 2026, noting that membership numbers remained broadly consistent with an increase in pensioner members.
• Online Member Self Service portal update: Information on the number of active members registered for the Haringey Pension Fund's Engage Portal, with ongoing engagement efforts to increase sign-ups.
• Update on Service Level Agreement (SLA) statistics: An overview of the agreed timeframes for the pensions administration team to process casework. While performance remained strong across most case types, transfers (both in and out) were noted as being below target due to resourcing challenges.
• Collection of Employer and Employee Contributions update: Confirmation that all expected payments and corresponding contribution schedules were accounted for as at the publication date.
• Internal Disputes Resolution Procedures (IDRPs): Details of one new IDRP case during the period, concerning an employer's delay in making an Occupational Health referral for an ill-health retirement assessment, which highlighted a need for further employer education.

Pension Fund Quarterly Investment and Performance Update

The committee was scheduled to receive updates on the Pension Fund's performance for the quarter ended 30 June 2026. The report indicated that as at 30 June 2026, the Fund was valued at approximately £2.22 billion, an increase of £124 million from the previous quarter, driven primarily by positive investment returns across listed equity and credit markets. The Fund delivered a positive return of 6.1% during the quarter, although it underperformed its benchmark over the 12-month, three-year, and five-year periods. The report also detailed market conditions, strategic asset allocation, and fund investment activity, including the formal transfer of asset management to London CIV.

Pension Fund Training Strategy

This agenda item was scheduled to provide an update on a Training Strategy outlining the learning and development framework for Pensions Committee and Board Members and Senior Fund Officers from October 2026 onwards. The strategy aligns with the Training Policy approved in July 2025 and is compliant with the Fit for the Future guidance. The report detailed the knowledge and understanding requirements for individuals involved in the governance and administration of the Fund, outlined roles and responsibilities, and described the training framework, including induction training, external opportunities, and self-directed learning.

Haringey Pension Fund Draft Annual Report 2025/26

The committee was scheduled to consider the Haringey Pension Fund Annual Report and unaudited accounts for 2025/26 for approval, subject to the successful completion of the external audit. The report was divided into sections covering management and financial performance, investment policy and performance, scheme administration, and the actuary's report. It was noted that the external auditor's opinion on the annual accounts could not be issued independently from the Council's statement of accounts and that an audited version would be published later.

Fit For the Future Update

This report was intended to provide an overview of key legislative and regulatory changes affecting the Local Government Pension Scheme (LGPS), particularly the Pension Schemes Act 2026. This Act introduced significant changes to governance, investment management, and oversight arrangements. The report summarised the Fund's current position regarding compliance with these revised regulations, including the appointment of an LGPS Senior Officer and an Independent Person, and the publication of the first Investment Strategy Statement.

Pension Fund Business Plan and Budget

This item was scheduled to provide the Pensions Committee and Board with an update on the Haringey Pension Fund Business Plan and Budget for the financial year 2026/27. The report highlighted that the Business Plan sets out key priorities for the year, encompassing routine activities and strategic initiatives. The budget for 2026/27 was developed based on previous financial year costs and anticipated workflows, with quarterly budget updates to be provided to the committee.

Exempt Minutes and New Items of Exempt Urgent Business

Items 20 and 21 of the agenda were scheduled to be considered in private, as they were likely to contain exempt information relating to financial or business affairs, or information subject to legal professional privilege.