The Local Pension Board of Barnet Council met on Monday 23 March 2026 to review the Pension Fund's administration performance, discuss updates on legislative changes affecting the Local Government Pension Scheme (LGPS), and consider the external audit and accounts. The meeting also included a review of the Fund's training strategy and policy, and decisions made by the Pension Fund Committee.

External Audit and Accounts

The Board was scheduled to consider the external audit and accounts for the Pension Fund. This included a review of the External Audit and Accounts.pdf report, which would have detailed the findings of the external auditors, Grant Thornton UK LLP. The report was expected to cover the audit of the 2024-25 Pension Fund Annual Report - signed.pdf and the associated financial statements.

Training Strategy and Policy

A key item on the agenda was the review of the Fund's Training Strategy and Policy.pdf. This strategy, detailed in Appendix A - Draft Training Strategy and Policy.pdf, was intended to outline the approach to ensuring that all relevant individuals, including Board members, Committee members, and officers, possess the necessary knowledge and skills to effectively govern and administer the Pension Fund. The strategy was expected to cover training responsibilities, needs analysis, delivery methods, and reporting requirements, aligning with the LGPS (Amendment) Regulations 2026 and statutory guidance.

Administration Performance Report

The Board was scheduled to receive an update on the administration performance of the West Yorkshire Pension Fund (WYPF), the administrator for the Barnet Pension Fund. The Administration Performance Report.pdf included the Appendix A West Yorkshire Pension Fund WYPF Monthly Report for January 2026.pdf and an update on other administration and legislative matters. This report would have provided information on key performance indicators (KPIs) for casework processing, member web registrations, and updates on projects such as the McCloud remedy implementation and the Pensions Dashboard Programme.

Fit for the Future Update

An update on the 'Fit for the Future' reforms was also scheduled. This would have covered the legislative and regulatory changes impacting the LGPS, including those related to fund governance, asset pooling, and investment strategies, which were expected to be effective from 1 April 2026, subject to parliamentary approval. The report, Fit for the Future Update.pdf, would have detailed the progress of the Pensions Bill and any new regulations issued by the Government.

PFC Decisions

The Board was to be informed of decisions made by the Pension Fund Committee (PFC). The PFC Decisions.pdf report would have summarised these decisions, outlining the rationale behind them, the processes followed, and their links to relevant policy documents and regulations. This would have allowed the Board to fulfil its role in overseeing the decision-making processes of the Pension Fund Committee.

The meeting also included standard procedural items such as the minutes of the last meeting, absence of members, and declarations of interest.