The Local Pension Board of West Northamptonshire Council was scheduled to discuss a range of governance and financial reports, including the Pension Fund Annual Report and Statement of Accounts for 2024-25. Other key topics included updates on the Governance and Compliance Report, a proposed Communication Plan, and a reviewed Conflicts of Interest Policy.

Governance and Compliance Report

The Board was scheduled to receive an update on the Governance and Compliance Report, which covers significant current issues impacting the governance, management, and administration of the Northamptonshire Pension Fund. This report was expected to detail developments related to the Local Government Pension Scheme (LGPS) in England and Wales, including responses to government consultations on scheme improvements, access, and protections. It was also set to cover updates on Pension Dashboards, the Scheme Advisory Board, determinations from The Pensions Ombudsman, and guidance from The Pensions Regulator. Additionally, the report was to outline skills and knowledge opportunities for Board members and details of any immaterial amendments made to policies or strategies as a result of officer reviews.

Pension Fund Annual Report and Statement of Accounts 2024-25

A significant item on the agenda was the Pension Fund Annual Report and Statement of Accounts for the 2024-25 financial year. This report was expected to provide a summary of key highlights from the Statement of Accounts, including the Fund's asset value, contributions, benefits, investment income, and management expenses. It was also to cover the findings of the external audit and IT audit for the year, including any identified errors or adjustments. The report was to detail the introduction of a Value for Money Statement and a description of complaints received during the year.

Communication Plan

The Board was scheduled to review the Northamptonshire Pension Fund's communications strategy and the proposed communications plan for April 2026 to March 2027. The strategy, updated and approved in March 2025, was reviewed again in January 2026 with no further changes recommended. The plan was to outline monthly communication activities for various stakeholder groups, including key initiatives like Pensions Dashboards and the enhanced self-service portal, as well as campaigns such as Pensions Awareness Week and National Pension Tracing Day. Statutory communications, such as annual pension statements and pensioner newsletters, were also to be detailed.

Conflicts of Interest Policy

An updated Conflicts of Interest Policy was scheduled for review. This policy details how actual and potential conflicts of interest are identified and managed by those involved in the management and governance of the Northamptonshire Pension Fund, whether directly or in an advisory capacity. The policy applies to members of the Pension Fund Committee, the Local Pension Board, and the Chief Financial Officer, as well as advisers and suppliers to the Fund. Proposed amendments included updating the legislative context to reflect the General Code of Practice, clarifying requirements for ACCESS and Border to Coast Pension Partnership during the transitional period, and adding provisions for minor gifts and hospitality.

Data Improvement Policy and Plan

The Board was also set to review the revised Data Improvement Strategy and Data Improvement Plan for 2026/27. The strategy outlines how the Fund obtains, manages, and maintains high-quality data, including cyclical reviews and internal control measures. The plan was to detail specific areas of focus for the forthcoming year, such as improving common data and ensuring readiness for Pension Dashboards. Changes to the strategy were to reflect updates in legislation and the regulatory framework, revised stakeholder references, and new contractual arrangements for mortality screening and external tracing services.

Administration Report

The Board was scheduled to receive the Administration Report, covering the period from 1 September to 31 December 2025. This report was to provide updates on administrative performance, including Key Performance Indicators (KPIs), contribution monitoring, and progress on Business Plan activities and the budget position. It was also to detail updates to the Fund's Risk Register and information on employer admissions and cessations. The report indicated that overall administrative performance levels were less than desired, with 28% of KPIs rated Red. However, 100% of employer contributions were received on time. No new material breaches or data breaches were reported during the period.

Investment Pooling Update

An update on Investment Pooling was also on the agenda. The Northamptonshire Pension Fund is a member of the ACCESS asset pool. Following a government review and consultation, the Fund concluded that Border to Coast Pension Partnership (BCPP) is its preferred pooling partner. Further due diligence and governance steps were underway to progress the transition from ACCESS to BCPP by 31 March 2026.

Other items

The agenda also included the confirmation of minutes from a previous meeting, chair's announcements, and a discussion on the exclusion of the press and public for certain items of business, likely relating to exempt information. The Board Plan for future meetings was also to be reviewed.