The Pension Board of Hounslow Council is scheduled to convene on Wednesday, 28 October 2026, to review a range of reports concerning the governance, administration, and financial performance of the London Borough of Hounslow Pension Fund. Key discussions are expected to cover the fund's administration performance, risk register, compliance with pooling and good governance guidelines, and the review of crucial policies.

Pension Fund Administration Performance Report

The meeting agenda includes a review of the Pension Fund Administration Performance Report. This report, compiled by the West Yorkshire Pension Fund (WYPF), is expected to provide an update on the administration service for the period of 1 April 2026 to 30 June 2026. It is anticipated to detail key performance indicators (KPIs), including the percentage of processes completed within target days, with specific attention to high-priority areas such as retirement quotes and actual benefit payments, and death processes. The report is also expected to analyse trends in outstanding cases, categorised by their age, and summarise the results of customer surveys. Furthermore, it is expected to outline the progress and outcomes of the Internal Dispute Resolution Procedure (IDRP) cases and any investigations by the Pensions Ombudsman. The report may also include a technical update on regulatory changes and current issues affecting the Local Government Pension Scheme (LGPS) administration. Exempt appendices are included for members of the Board, covering WYPF call centre statistics, McCloud retrospective calculations, and audit plans.

Pension Fund Risk Register

The Pension Board is scheduled to review the Pension Fund Risk Register, which details the main risks affecting the Hounslow Pension Fund and the mitigation measures in place. This report, updated as of 31 March 2026, categorises risks under six main headings: Funding and Investment, Demographic, Cyber risk, Administration, Regulatory, and Resources and skills. The report may note the addition of a new risk category, Geopolitical risk, to assess and monitor the impact of ongoing global political tensions on the Fund. The report is expected to include a summary of key risks, a detailed risk register, and a scorecard explaining the risk scoring framework.

Compliance with Pooling and Good Governance Guide

The meeting agenda includes a review of the Fund's compliance with the Pooling and Good Governance Guide. This report is expected to provide an update on the ongoing implementation of reforms related to asset pooling and governance within the LGPS. It is anticipated to detail the progress being made with London CIV, investment advisers, and partner funds in establishing future operating arrangements. Particular focus may be given to investment monitoring arrangements and the development of governance mechanisms required under the new framework. The report is expected to note the progress being made across London authorities and confirm that officers remain actively engaged with partners to secure compliance with evolving requirements.

Review of Communication and Conflict of Interest Policies

The Pension Board is expected to review draft updated policies on Communication and Conflicts of Interest. The Communication Policy Statement has been revised to reflect current practices and developments within the shared service arrangement, incorporating elements from WYPF and other partner funds. It introduces separate communication requirements for different membership groups, aiming for greater consistency in communication standards and stakeholder engagement. The Conflicts of Interest Policy has been updated to align with recent LGPS governance reforms and the introduction of new statutory roles. This revised policy is intended to establish a clear framework for identifying, recording, monitoring, and managing actual, potential, and perceived conflicts of interest for all individuals involved in the Fund's governance and administration.

Review of Investment Strategy Statement

A draft of the Pension Fund's Investment Strategy Statement (ISS) will be presented for review and comment. This statutory document outlines the Fund's objectives, priorities, and preferences for investing its assets, forming a key part of its governance framework. The draft ISS reflects the strategic asset allocation agreed by the Pension Fund Panel following the March 2025 triennial valuation, based on advice from consultants and the actuary. The regulations require consultation on the proposed contents of the ISS with employers, scheme members, and other stakeholders before its final approval by the Pension Fund Panel.

Pension Board Forward Plan 2026/27

The Pension Board will consider its Forward Plan for 2026/27, which outlines the proposed programme of work for the upcoming year. This plan is expected to include standing items such as the Pension Fund Monitoring Report, Administration Performance Report, and Risk Register, as well as specific agenda items related to administration, governance, funding, and investment. The plan may also highlight training updates and forthcoming opportunities, reflecting the ongoing need for members to maintain and develop their knowledge and skills in line with regulatory requirements.

The Pension Fund Annual Report

The Board will review the draft Annual Report and Accounts for the London Borough of Hounslow Pension Fund for the financial year 2025/26. This report provides an overview of key developments, performance, and the Fund's financial position as at 31 March 2026. It is also expected to include an account of the activities and decisions of the Pension Fund Panel and the Pension Board during the reporting period. The draft audit completion report, summarising the external auditors' findings and conclusions, will also be presented. The statutory deadline for publishing the Annual Report is 1 December 2026.

The meeting will also address the Pension Board Forward Plan 2026/27, which details the planned work programme for the year ahead, and the Pension Board Monitoring Report, which provides updates on various governance and compliance matters.

The meeting is scheduled to take place at Hounslow House, 7 Bath Road, Hounslow TW3 3EB. Members of the public and press may be asked to leave the meeting during the discussion of certain exempt items.