The City of London Police Pensions Board met on Wednesday 14 October 2026 to review the scheme's risk register and receive updates on administration and scheme management. Key discussions included the ongoing impact of the McCloud legal case, cyber security risks, and the performance of the pension administration system.

CoLP Police Pension Scheme - Risk Register

The Board reviewed the City of London Police Pension Scheme's risk register, which details identified risks, their potential impact, and mitigation strategies. Officers confirmed that the current risk ratings are accurate. The register includes eight key risks, with two currently rated as amber: the McCloud legal case and cyber security. While the initial deadlines for the McCloud remedy implementation have passed, its impact on administration remains significant, though the likelihood of major disruption is decreasing. Cyber security risks are also considered substantial due to the potential for breaches to affect the administration system and lead to data protection violations, financial penalties, and reputational damage. Other risks, including legislative compliance, pension fraud, and system administration, are rated as green, indicating manageable risks. The Board was asked to confirm the adequacy of existing control measures and consider any new risks.

The McCloud legal case, stemming from a 2018 Court of Appeal ruling that transitional protection in public service pension schemes discriminated against younger members, continues to present administrative challenges. The Police Pensions (Remediable Service) Regulations 2023, which came into force in October 2023, aim to address this by allowing eligible members to choose between legacy and new scheme membership for the period of April 2015 to March 2022. While most Remediable Service Statements were issued by the statutory deadline, ongoing queries and the integration of McCloud-related processes into business as usual operations mean the risk remains. Actions to manage this risk include continued participation in working groups, software updates, and clear communication with scheme members.

Cyber security remains a high-priority risk, with potential breaches threatening the pensions administration system and data protection regulations. Mitigation strategies include adherence to corporate IT security policies, regular software updates, inclusion of the pensions administration software in business continuity plans, and staff awareness of data protection legislation.

CoLP Police Pension Scheme - Administrator's Update

Graham Newman, Pensions Manager for the Chamberlain's Department, provided an update on the administration of the City of London Police Pension Scheme. The report highlighted that core pension administration processes are operating effectively, with no material errors identified. Performance management and governance are strong, though procedural documentation and evidence of monitoring activities could be enhanced. The internal audit team has completed a review of the pension fund administration, with recommendations for strengthening resilience and evidencing control application.

Significant progress has been made on the implementation of a new payroll system, SAP, with user acceptance testing underway. The system will introduce pensioner self-service functionality, allowing members to access payslips and update personal details online. A new monthly data upload process from SAP to the pensions administration system, Altair, is expected to improve data accuracy and reduce year-end validation efforts. The scheme has also introduced pre-retirement webinars for police officers within six months of retirement, covering benefit calculations, retirement processes, and post-retirement expectations.

The report also detailed the ongoing implementation of the McCloud Remedy, noting that all retirements since October 2023 have been processed under the new regulations. Annual Benefit Statements now include a Remediable Service Statement (RSS) to provide members with comparative figures for accepting or rejecting the Remedy. For officers whose legacy scheme was the 1987 Scheme, underpaid contributions may be collected in instalments, while those from the 2006 Scheme may receive a refund of overpaid contributions. The Pensions Office continues to manage a significant volume of queries related to the McCloud Remedy.

Updates were also provided on the national Pensions Dashboards initiative, a platform designed to allow individuals to view their pension benefits from multiple sources. The City of London has met the deadline for connecting to the national infrastructure, with public go-live expected following further notice.

Scheme Manager Update

Kelly Glazebrook, Director of People Services for the City of London Police, presented an update on Scheme Manager activities. The report detailed complaints and queries received by the City of London Police over two quarters. Pension forecasts and estimates were the most frequent reason for officers contacting the pension office. A new pension calculator function within the pensions dashboard is expected to be rolled out to enable greater self-service and reduce this demand.

The statutory deadline for issuing Annual Benefit Statements/Remedial Service Statements was met in all but 26 cases, with delays attributed to pending information from previous police forces and technical issues. This breach was assessed as low-risk and will be monitored through the scheme's governance processes. The Service Level Agreement (SLA) between the Scheme Manager and the Administrator has been reviewed and updated, including an extension to the KPI for the initial payment of retirement benefits from 10 to 20 days. Attendance at the annual Police Pensions Conference was noted, and work continues nationally on the transition of scheme manager responsibilities to the new National Police Service, though timescales are yet to be agreed.