The Pensions Committee of Hackney Council met on Wednesday, 21 January 2026, to discuss a range of updates and strategic decisions concerning the Local Government Pension Scheme (LGPS). Key decisions included the approval of recommendations for the LGPS 'Fit for the Future' update, the admission of Buckinghamshire Pension Fund to the LCIV Pool, and the adoption of an updated Voting Policy.

Buckinghamshire Pension Fund Admission to the LCIV Pool

A significant decision made by the Pensions Committee was the approval for the Buckinghamshire Pension Fund to be admitted as a new member of the London CIV (LCIV) pool. This move is part of the government's LGPS reforms, which require asset pools to demonstrate compliance with new standards. Buckinghamshire Pension Fund, previously part of the Brunel Pension Partnership, approached LCIV in September 2025, expressing a preference to join the London pool. The business case for this admission highlighted economic sense, scale, geography, product alignment, local investment opportunities, and management capabilities. The committee agreed to changes in the Shareholder Agreement, share capital, and the Company's Articles of Association to facilitate this admission. The LCIV anticipates that this will not alter existing governance arrangements, and the new partner fund will contribute proportionally to share capital and service charges, ensuring no dilution of existing shareholders' value or increase in Hackney's costs.

Responsible Investment Working Group (RIWG) Update

The committee received an update on the work of the Responsible Investment Working Group (RIWG), which met on 10 December 2025. The RIWG, a sub-group of the committee, is tasked with overseeing the development of the Fund's Environmental, Social, and Governance (ESG) strategy. The group discussed the implementation of a new Voting Policy, aiming to align with the Fund's responsible investment objectives and integrate ESG and stewardship standards. They also considered impact investing and local investment, noting new draft regulations for 2026 that require funds to set a target percentage for local investment and report on its measurable beneficial impact. The RIWG has set an indicative 3-5% allocation towards local investment. An indicative work plan for the RIWG for 2026/27 was also presented, outlining activities such as finalising the voting policy, reviewing London CIV's ESG activities, and considering climate targets. The committee agreed to the updated Voting Policy and delegated its implementation to the Group Director Finance & Corporate Resources.

LGPS 'Fit for the Future' Update

The committee approved recommendations related to the LGPS 'Fit for the Future' initiative. While details of this update were presented in an exempt session, the decision indicates progress in adapting the Local Government Pension Scheme to meet evolving regulatory requirements and strategic objectives.

Quarterly Governance Update

The committee noted changes to the Risk Register, which provides an overview of potential risks to the pension fund and outlines mitigation strategies. Additionally, the draft Administering Authority Privacy Statement was approved. This statement outlines how the council handles personal data in relation to the pension fund, ensuring compliance with data protection regulations.

Quarterly Administration Update

A quarterly update on pension administration was received, covering performance monitoring for the quarter ending September 2025, LGPS regulatory updates, and progress on the administration migration project. Updates were also provided on other administrative areas, such as pension saving statements.

Fund Manager Internal Control Update

The committee noted a verbal update on internal controls within fund management, indicating that recommendations were approved. This suggests a review of processes to ensure the integrity and security of the pension fund's investments.

Investment Consultancy - Objectives & Contract Extension

The committee approved recommendations concerning investment consultancy objectives and a contract extension. This decision, made in an exempt session, likely relates to the ongoing management and oversight of the pension fund's investments by external consultants.

UK Passive Equity Allocation

A decision was made regarding the UK Passive Equity Allocation, also discussed in an exempt session. This pertains to the strategy for investing in UK equities through passive funds, which typically track a market index.

Urgent Restricted Business - Investment Objectives and Investment Strategy Statement

The committee approved recommendations concerning urgent restricted business related to investment objectives and the investment strategy statement. This indicates that critical strategic decisions regarding the fund's investment approach were made, likely in response to changing market conditions or regulatory requirements.